Trend is finally up in AUD/USD currency pair in one hour time frame. Based on Elliott wave analysis price is printing Double Zig Zag bullish corrective wave pattern. Short term support is present at 0.6875 price level. Based on Elliott wave count, I expect price action to continue an up trend. So, a good idea is to only look for buy trades and join the up trend. However a break down in price action below 0.6875 support level will end an up trend. In such case I stop trading and re-analyze the price action in AUD/USD currency pair.
