AUDUSD is making very strong gains since price broke out of the base channel in mid January, and this type of breakout confirms that we are in an extended impulse, meaning wave higher degree black wave 3 or C is still unfolding. But its coming into some resistance now with blue subwave 5 that is approching Fib levels here at 0.71-0.7200. Keep in mind that after every five waves market is expected to slow down, and its possible that new correction will show up in second half of this month.
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