Welcome to my new analysis about AUDUSD on the 4-hour timeframe perspective. In the recent times the Australian Dollar has gone up against the U.S.-Dollar on the latest news as the administration once again suspended the debt ceiling because of the "security" the U.S.-Dollar gives as a world reserve currency and a justification that should make new debt "healthy" for the economy making room for new debt to be made exceeding the $31.4 trillion debt ceiling. In reaction to this other currencies such as the Australian Dollar jumped massively on the news printing a initial wave towards local highs as alternatives are in search for the purpose of capital moving into more non-debt ceiling affected currencies.
From the technical perspective this initial pump is what makes AUDUSD an interesting gem in the forex market right now. As with this initial pump AUDUSD has completed this paramount descending triangle formation and emerged with the first wave of this main wave-count. Often after such initial bursts of volatility to begin a new wave a pullback to pre-pump levels is highly likely which should be expected in this case also as marked in my chart. Once AUDUSD has reached the support marked in my chart or some higher above this level and AUDUSD bounces significantly from this level it will be the origin of the next major wave expansion to follow up and continue to reach the upper target zones confirmed by this whole expansion development.
Thank you everybody for watching. It will be great when you support my idea and we move on forward together. "To give pleasure to a single heart by a single act is better than a thousand heads bowing in prayer."
VP
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AUDUSD bounced at the support.
Further alignements ongoing.
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AUDUSD moved on with the wave-count.
Reaching out to upper target zones.
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AUDUSD reached all upper target-zones.
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AUDUSD after reaching all targets, on the global perspective is testing the 0.675 level for continued support.
Trade active
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Trade closed: target reached
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ANALYSIS UPDATE: AUDUSD reached the doubled target-zone with a double pump.
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ANALYSIS UPDATE: AUDUSD is approaching the VPVR zone with a price-action development.
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ANALYSIS UPDATE: AUDUSD heavily bounced within the major support-levels to accelerate the bullish dynamics.
AUDUSD since increasing with the bullish dynamics printed a massive bullish volatility spike into the final target-zones.