New Downtrend For AUD/USD?
Gregor Horvat | Jun 24, 2016 05:52AM ET
AUD/USD fell quite strongly from 0.765 zone, where we labeled end of wave C), as part of a higher correction. We are now trading in the wave 2 corrective pullback with wave A potentially already over, thus only wave B and C remain to unfold. Resistance for this corrective retracement is around 0.7460-80 area, where even some Fibonacci ratios 50.0 and 61.8 could come in play and act as reversals lower.
AUD/USD, 30Min
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