💲As I wrote in a previous post about the coming declines. I wasn't wrong
💲AUD/USD in my opinion is facing a significant downward wave.
💲The price has during today started to continue its declines after performing an upward correction of the second downward impulse.
💲The nearest support was determined by a cluster of two fibo levels. The first is the level of 0.236 of the entire wave from the 2021 peak to the 2022 bottom. The second level is 0.887 of the entire wave from the 2008 bottom to the 2011 peak.
💲I determined the resistance zone above based on the level of 0.618 of the whole wave from the 2001 bottom to the 2008 peak.
💲The scenario I am playing out is a continuation of declines to reach a support zone in the coming days. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
💲 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
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