Currency Pair: AUDUSD Frequency: 4H Predicted Direction
AUDUSD has successfully completed its a-b-c correction pattern like what I predicted before on Sep 19 and hit my support zone of 0.78120 - 0.77893. As the price has failed to reach my last support level of the descending line (Blue), it started to reversal from my temporary support level of 0.77479 and broke through sharply to my support zone. According to this, I believe the minor corrective Wave 4 is almost finished, however, for more confirmation we have to wait until the price reach my critical level of 0.79560. Once it beaks I see the price towards to the higher level of the resistance zone of 0.80656 - 0.88162
For the long-term perspective, like my previous update of AUDUSD, it will develop its upward channel when the resistance zone is broken and the my target will look at (1) 0.84225 and (2) 0.89021