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Feb 18, 2024 11:57 AM

AUDUSD Long

Australian Dollar/U.S. DollarFXCM

Description


In the AUD/USD pair's 4-hour timeframe, a bullish trend appears imminent following the completion of a 5th wave and a breakout from a falling wedge pattern. Entry occurred post-breakout above key resistance levels. Presently, the price action suggests a correction in line with Elliott Wave theory (ABC pattern), potentially signaling further upside momentum in the near term.
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