AUDUSD can be trading at the end of a triangle correction in wave 4, which means a sharp recovery higher can be around the corner. Ideally we will see the previous blue wave b swing of the triangle correction breached, which would be a confirmation for a completed correction and black wave 5 in progress. Ideally wave 5 will later extend its gains towards the Fibonacci ratio of 138.2/161.8 region.

AUDUSD, 1H

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