AUDUSD has no direction for the last few weeks, actually pair is still trapped in a sideways range since September 2015, so we assume that something more complex is unfolding here. We are looking at a triangle now in wave IV that is incomplete, but we may see some weakness this week as wave D can be in the cards for a decline to around 0.6900 area.Generally speaking we see see pair trapped in a big correction within big downtrend that can extend to around 0.6500-0.6600 area sometime this week where pair can be looking for a bottom.
AUDUSD, Daily
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