has been drifting sideways, specifically 3 waves since lows were formed at 0.7200 levels earlier. A probable wave count from here could be drop towards 0.7175 levels before bulls could resume higher again. Also note that fibonacci 0.618 support of the previous rally is seen at 0.7175 levels and hence we can expect meaningful support in that region. Nothing much has changed structurally for now and a probable 3-3-5 flat wave structure could be in the making. If this holds true, we could see AUDUSD
rallying towards 0.7370 levels at least. The AUDUSD
price action has remained subdued for now due to a tight sideways range.
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