Aussie is recovering away from 0.6820 but this rally may not go far as it can be part of a big five wave decline that is unfolding since early December of last year. We are talking about big black wave V that can reach levels near 0.6700 before bottom is seen. So for now, we assume that current bullish leg represents wave 4 as part of ongoing decline. Nice resistance for current move comes in around 0.7050-0.7080 where gains can be limited this week.
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AUDUSD, 4H
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AUDUSD, 4H
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