Elliott Wave Analysis: AUDUSD Trading Higher into Wave Two
AUDUSD can be trading at the start of wave C)(visible on 4h chart), specifically at the end of black sub-wave 1. We see wave one unfolding nicely to the upside, with minor wave v in motion. Previous swing high of 0.7517 level can act as a resistance region for the mentioned wave, which means we can expect a contra-trend reaction to follow from there. Support for the following wave 2) can later be seen around 0.7421 level.
AUDUSD, 1H
AUDUSD, 4H
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