Aussie found support at 0.5500 trendline when looking at a daily chart so looks like bulls remain in play for now especially if we also consider that recent retracement from January high is overlapping, thus corrective in nature. Ideally, that’s wave 4 that suggests more upside for wave 5, but AFTER a successful daily close above the channel resistance as shown on the 4h chart.
(Click on image to enlarge)
Gold is also important to track where more upside from the lower side of a wedge may help Aussie to gain even more.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.