aud-usdTrend is bullish in AUD/USD currency pair, 4 hours time frame. Since yesterday price of Aussie vs US dollar has dropped nicely. All those Forex traders who followed the forecast made profit in bearish price action. Now, I expect price to rise up to complete bullish Wave d corrective leg. Support is present at 0.7598 price level and as long as price stays above 0.7598 support level the bullish Elliott wave count remains valid. A bearish break down 0.7598 critical support level is going to invalidate the bullish market view. In this case, I would prefer to stay out of the market and re-analyze the price action.

By FXOpen