WaveAlchemy
Long

Longer-Term Insight of AUDUSD

FX:AUDUSD   Australian Dollar/U.S. Dollar
65 0 4
It is of my opinion that this market has no reason not to rally to .7500

Price has been rejected by the market at the .38% retracement and shortly there after price failed to make new structure lows as would be expected in this predominantly bearish trend , resulting in a nice sequence of higher lows.

The projected . 50% retracement is convergent with the extension of .38% retracement leg AND this conveniently meets at a previous structure low.

Thanks

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