AUDUSD broke higher recently, up into wave C-circled that is part of a big corrective wave IV which looks like a flat. A flat correction is a 3-3-5 pattern; a contra-trend movement that should send price back to the downside after a completion. That said, despite higher prices traders will have to be aware of a bearish turning point as we can already see price in red wave 5) now, final part of wave C-circled that could be looking for a top next week at 0.7800-0.7900 area.
AUDUSD, Daily
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