AUDUSD made a five-wave completed decline from 0.668 level, which is now being followed by a temporary, three-wave a-b-c pullback, and is trading at resistance. Ideally a new fall below the lower channel line, and below the 0.571 will follow in the next few sessions, which would indicate further weakness.
NZDUSD is trading similar to aussie; now unfolding final stages of a three-wave A-B-C correction within a fourth wave, where price is also trading at possible resistance/reversal levels. We see a wave C underway, which can face a turn lower at the 0.591/0.597 region.
A sharp turn below the lower channel line would indicate further weakness.
The EW-Forecast team
You can subscribe to our webpage at EW-Forecast for more unique, and daily content. We also have a 7-day trial offer for FX services (1€) and for Crypto services (2€). Check it out!
By using www.ew-forecast.com website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.ew-forecast.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.