Elliott Wave Forecast Team
ElliottWave-Forecast.com
As expected, AUDUSD turned back to the lows after a corrective rally to 0.8375 which was wave 4) as part of an impulsive decline in big wave (5). Actually with new lows our minimum expectations were achieved, which means that reversal to the upside could follow in sessions ahead. However, ideally target for wave 5) comes in around 0.8130; at 61.8% projected level of wave 3) measured from end of wave 4). But the most important is that market is in fifth wave of decline with divergence on the RSI so sooner or later trend could turn.
AUDUSD Elliott Wave Analysis
AUDUSD Elliott Wave Analysis
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