The short term corrective structure that began from 0.7300 levels earlier looks to be complete after AUDUSD made lows at 0.7165 levels yesterday. The projected minimum was at 0.7175 levels, which is also converged by fibonacci 0.618 support of the earlier rally between 0.7085 through 0.7300 levels respectively. Looking at the wave structure, an A-B-C correction could be underway from 0.7085 levels lows. If this count holds to be true, prices would ideally remain above 0.7085 levels and extend towards 0.7370 and 0.7500 levels going forward.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.