Contributors Technical Analysis Elliott Wave Analysis – Aussie Is Approaching Resistance

Elliott Wave Analysis – Aussie Is Approaching Resistance

Australian index moved slightly lower in the last few sessions which helped Aussie to jump to 0.7650. Interestingly, pair did not move much after RBA rate decisions so flows remains unchanged for now; there is still uptrend in progress from 0.7512 on intraday charts which suggests another, maybe final push up to 0.7670/90 area where bulls may start to slow down as wave four can be slowly coming to an end. I am wathcing price action very closely; since it may offer a nice bearish set-up if we see an impulsie turn down in the next few sessions.

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