Elliott Wave Analysis: AUDUSD Dropping Temporarily; 0.690 in View!

Gregor Horvat Wavetraders

Hello traders!

Aussie is dropping as expected from the 0.688 level where a temporary top for wave a)/i) of a three-wave move had been located. Current three-wave drop can now be labelled as wave b)/ii), with possible support, and turning point zone around the Fibonacci ratio of 50.0/61.8. A rally above the current high would suggest more upside into wave c)/iii).

AUDUSD, 1h

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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