We changed our look on AUD/USD and are now looking at a five wave move higher being made, with price now trading in final stages of sub-wave 5 of C). That said, current wave 5 can now see limited upside around the Fibonacci ratios of 161.8 or 76.4, before making a new reversal lower. Once wave 5 is completed, we expect a new five wave drop to follow.
AUD/USD, 4H
(Click on image to enlarge)
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