The AUDUSD wave count and structure remains fairly unchanged for now as prices bounced from fibonacci 0.382 support of the rally between 0.7140 and 0.7300 levels respectively. At the moment it is safe to assume that wave 3 or C could be underway and that AUDUSD could print higher highs going forward. Please note, for this count to remain valid, prices should remain above 0.7238/40 levels going forward. As an alternate count, a drop below 0.7200 could indicate that AUSUSD rally could be delayed as it is may unfold as a potential flat 3-3-5, wave structure. In either case, the medium term picture for AUDUSD could remain bullish and prices are expected to stay above 0.7085 levels.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.