Hi Traders,
last month I said that the main target was around the support at 0.9380. The AUDUSD reached 0.9325 and bounced back.
SITUATION
Check the 4 chart: the Aussie reached the major support with 5 smaller waves and bounced back to 0.9665.
TARGETS
Short term (4-hour & 1-hour chart)
The AUDUSD is expected to retrace to the area 0.9558-0.9544 (1-hour chart), then the uptrend should resume to the area 0.9764-0.9742.
Medium term (daily chart)
This initial pullback is part of a major "two-step pattern", a 3 waves pattern upwards that should finally take the AUDUSD to the area 0.9959-1.0010.
Long term (weekly chart)
Around the parity, the downtrend should resume to 0.8877 and 0.8578
weekly chart - click to enlarge
last month I said that the main target was around the support at 0.9380. The AUDUSD reached 0.9325 and bounced back.
SITUATION
Check the 4 chart: the Aussie reached the major support with 5 smaller waves and bounced back to 0.9665.
TARGETS
Short term (4-hour & 1-hour chart)
The AUDUSD is expected to retrace to the area 0.9558-0.9544 (1-hour chart), then the uptrend should resume to the area 0.9764-0.9742.
Medium term (daily chart)
This initial pullback is part of a major "two-step pattern", a 3 waves pattern upwards that should finally take the AUDUSD to the area 0.9959-1.0010.
Long term (weekly chart)
Around the parity, the downtrend should resume to 0.8877 and 0.8578
weekly chart - click to enlarge
daily chart - click to enlarge
4-hour chart - click to enlarge
1-hour chart - click to enlarge
