AUDUSD is at new lows. So far we have seen a nice leg down, but there is room for more weakness as wave 5 needs to be made by five sub-waves. As such, we remain short-term bearish now for 0.7130, while price is beneath 0.7230.
AUDUSD, 1H
Elliott Wave Analysis: AUD/USD Reaching For 0.7130
AUDUSD is at new lows. So far we have seen a nice leg down, but there is room for more weakness as wave 5 needs to be made by five sub-waves. As such, we remain short-term bearish now for 0.7130, while price is beneath 0.7230.
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