Aussie Found A Temporary Resistance

10 and one 10 us dollar bill

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Aussie a.k.a. AUDUSD currency pair made a clear and impulsive five-wave rally since October 2022, which from Elliott Wave perspective indicates a change in the trend back to bullish mode. However, after every five waves, we can expect a corrective slowdown before the uptrend resumes, especially in this case, where we see it down out of the wedge pattern of 5th wave after today's NFP report.

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Well, technically speaking we believe that Aussie found a temporary resistance and it can be now on the way down within slow and corrective price action. Ideally, we will see a retracement back to the former wave 4 area that can find the support around 0.67 – 0.65 levels and from where we will later expect a bullish resumption. 

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