Weekly Outlook For AUD/USD: Modest Correction Expected
Ian Copsey | Mar 31, 2015 03:10AM ET
AUD/USD INTRADAY CHART
31st March:
We have seen Wave -iv- and are close to the Wave -a-. At this point we're closing in on the Wave (iii) projection that could be as close as the 198.4% projection at 0.7611 but could reach the 223.6% at 0.7577. With Wave (ii) being 61% we should see the Wave (iv) between the 23.6%-33.3% retracement. This should suggest a Wave (v) at a minimum of around 0.7539 but could be deeper if the 223.6% projection is seen in Wave (iii). Thus, we'll need to watch the next move to estimate the Wave (v) to form Wave -a-. Once seen we should see a modest correction in Wave -b- before lower to the Wave [iii] targets...
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