Intraday Elliottwave Analysis: AUDUSD, neutral bias

AUDUSD still hold near term control point at 0.7566.

But price failed to close above H4 upper bands.

Although medium term trend still point up, some deeper retracement could not be ruled out.

From an Elliottwave perspective, dips should be bought against 0.7489/35 look for eventually break higher.

However, before we get clearly uptrend evidence, further observation is needed.

Will re-assess after ECB.

Daily support levels: 0.7566 0.7557 0.7543 0.7522 0.7494

Dialy resistance levels: 0.7582 0.7603 0.7628 0.7636

Intraday Trade Idea: (spot 0.7568)

Sell Latentinterest Order:  0.7603

Buy Latentinterest Order:  0.7516

Click on the image to enlarge

audusd chart 1

audusd chart 2

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Views are my own, not trading recommendations.