AUDUSD made a sharp and strong reversal down recently, which we now see it as a start of a new bearish turn after recently broken channel support line connected from start of June. Notice that fall also appears to be impulsive so more weakness will be expected to follow after a short-term minor recovery up into wave 2/B, which can see potential resistance near the lower channel line and around the Fibonacci ratios of 38.2/61.8.
Invalidation level is at 0.7712 level, as long as price trades below this levels we are looking bearish.
AUDUSD, 4H
