Elliott Wave Analysis: AUDUSD Undergoing A Potential Reversal To The Downside
|Aussie is currently making a sharp reversal down from around the 0.7748 level where a possible top for wave C) of E may have been found. This sharp decline is a confirmation that the previous five wave rise within wave C) is completed and that a minimum three wave reversal may now be in the cards. That said, at the moment we see price undergoing an intra-day rally, probably into wave 2) which may see limited upside in the near-term.
AUD/USD, 4H
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