On the updated chart of AUD/USD, we are looking at a higher degree wave E taking place, with price particularly trading in the first leg A). If that is the case, then wave A) will probably find some resistance in the near future around 0.7520-0.7550 area, where bulls can slow down but only for a temporary three wave drop lower into wave B), before uptrend resumes into final parts of wave C of a fourth wave. A divergence on the RSI also suggest that near-term top is close, but we still need a break bellow the channel support to make sure that wave A) has found a top.
AUD/USD, 4H
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