The AUDUSD progressing well within Wave C rally as expected and has exceeded the fibonacci 1.618 extension as shown here. Believe it or not, the third wave is the largest and fastest moves within an impulse wave (Wave C here) and it could also be an extended wave at time. In case of AUDUSD and extended third wave could be in the making which could push Wave C to 0.7370 levels at least. Also note that potential for Wave C remains as high as 0.7500 levels, which is fibonacci 0.618 resistance of the earlier drop between 0.8130 through 0.7085 levels respectively. Overall, medium term bullish outlook remains for AUDUSD for now.
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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.