The AUDUSD pair remains bullish for the medium term and bulls could be poised to push higher towards at least 0.7370 levels, going forward. Looking at the overall wave structure, the AUDUSD might be producing an expanded flat correction after having completed a 5 waves impulse drop at 0.7085 levels earlier. A probable wave count has been depicted here, which could indicate that Wave A and B, within the proposed expanded flat, terminated at 0.7320 and 0.7040 levels respectively. If this could holds, prices could rally swiftly towards 0.7320 at least. Ideally, the AUDUSD pair is expected to terminate towards 0.7370 and higher levels. We maintain our medium term bullish bias against 0.7040 levels for now.
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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.
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.