Wave 2 may result in investments in safe-haven assets as Gold and Bitcoin (as it seems). Since the Australian Dollar is correlated to Gold, we should expect a contemporary moves of the AUD against it's quoting currencies.
Gold as the Australian Dollar against major pairs had tested an important dynamic support and rebounced, this might bring in some singnificant signals to investors among the Covid wave 2 to purchase Gold right now. As the US Election is getting close, the volatility may as well rise.
Despite the fact that a regular Bullish flag pattern implies a 5-wave move inside the flag before the breakout, however I think that the pattern here is complete and AUD may break the resistance soon enough.
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