AUDUSD Wave Analysis 26 December 2024

- AUDUSD reversed from resistance level 0.6270
- Likely to fall to support level 0.6200

AUDUSD currency pair recently reversed down from the resistance level 0.6270 (former multi-month support from the start October of 2023, acting as the resistance after it was broken yesterday).

The downward reversal from the resistance level 0.6270 stopped the previous minor correction iv – which belongs to sharp sub-impulse 3 of the higher impulse wave (3) from September.

AUDUSD can be expected to fall to the next support level 0.6200, which stopped the previous impulse wave iii earlier this month.