A sharp decline last week took out the lower side of an upward corrective channel which is the most important evidence for a trend continuation, in our case to the downside. So with that in mind we suspect that wave 4) is over and that price is headed to a new low with a five wave decline down in red wave 5) that can touch even 0.6600-0.6700 area in weeks ahead.
AUDUSD, Daily
AUDUSD, Daily
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