AUD/USD is higher after breaking out of a triangle placed in wave four. We can see a sharp 90 pip rally up to our 261.8% Fib. resistance but there is room for 0.7600 still. However, keep in mind that this can be last leg within a red wave A), so sooner or later market can turn south for a new 3-leg correction. Divergence on the RSI also suggests a limited upside.
AUD/USD, 1H
Comments
Log in or sign up to join the conversation.