AUD/USD is trading lower this year, and it took out an important trendline support and moved slightly below former wave 4) level as well. These are evidence of a completed wave IV at 2018 high which means that more downside can be expected this year as the price can be in big wave V. In the next few days price may drop to 0.7330 area to complete wave 1 before it turns higher for a wave 2 rally.
AUD/USD, Daily
Comments
Log in or sign up to join the conversation.