Forex

AUDUSD: Bulls Will Not Give Up That EasilyMar 8, 2023

Aussie broke to new highs at the end of January, but it came out of a corrective wave 4 so we knew that this was the fifth wave, the final leg of a higher-degree impulse that caused a major corrective set-back after sharp drop out of an ending diagonal. So far, we can already count A-B-C down, with wave (C) trading at 0.6600; potential support area, so we are aware of a new support down here, even if just temporary for another corrective bounce. From a bullish perspective, you want to see 0.6857 broken to make sure that now swing low is forming.

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AUDUSD Moving Into Support Area
AUDUSD Elliott wave

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