Today’s analysis is about AUDUSD and its daily time progress.
We can see that Aussie is trading in a bigger three-wave correction , since November of 2015 when a higher degree impulsive wave III had ended. Current choppy and overlapping price activity is now labeled as an ongoing corrective wave IV, that can be trading in final stages. We can see sub-waves A and B already completed, which means current bullish, sharp movement is sub-wave C, that can end near the Fibonacci ratio of 50.0 and near previous swing high at 0.8161 level. From the mentioned region, a new reversal lower could come in play.
AUDUSD, Daily
