Aussie Can Be Finishing A Flat Correction Within Uptrend
Aug 2, 2023

AUDUSD

Aussie can be finishing a flat correction within uptrend from technical point of view and from Elliott wave perspective.

On Aussie we see very strong and impulsive first leg from 0.6459 level, which can be the first higher-degree wave (1), so more upside can be seen after current pullback in wave (2) that can be now coming to an end as an A-B-C flat correction. As long as the price is above 0.6459 level, we will remain bullish. Looking at the 4-hour chart, we are tracking a five-wave cycle, ideally wedge pattern within wave C of (2) that is right now testing June lows support area before bulls show up again.

Aussie Can Be Finishing A Flat Correction Within Uptrend AUDUSD 4H Chart
AUDUSD 4H Chart

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