AUD/USD starts new Elliott Wave impulse higher [Video]

ElliottWaveForex.com Team ElliottWaveForex.com

Short Term Elliott Wave View in AUDUSD suggests the pair ended wave (B) at 0.6458. Pair has turned higher in wave (C) with subdivision as a 5 waves impulse Elliott Wave structure. Up from wave (B), wave ((i)) ended at 0.6638 and pullback in wave ((ii)) ended at 0.6578. Pair resumes higher in wave ((3)) and nesting in lesser impulsive structure. Up from wave ((ii)), wave (i) ended at 0.6717 and dips in wave (ii) ended at 0.664.

AUD/USD 1 Hour Elliott Wave chart

Pair resumes higher in wave (iii) towards 0.6835 and pullback in wave (iv) ended at 0.6755. Expect wave (v) to end soon which should complete wave ((iii)). Afterwards, pair should pullback in wave ((iv)) to correct cycle from 6.5.2023 low in 3, 7, or 11 swing before it resumes higher in wave ((v)). This should complete wave 1 of (C) in higher degree. Pair should then pullback again in larger degree wave 2 to correct the cycle from 6.1.2023 low before it resumes higher. Near term, as far as pivot at 0.6458 low stays intact, expect short term pullback to find support in 3, 7, or 11 swing and pair should continue to extend higher.

AUD/USD Elliott Wave video

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ElliottWaveForex.com Team

ElliottWaveForex.com

ElliottWaveForex.com provides technical analysis of currency markets from a pure Elliott Wave perspective.

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