AUDUSD
AUDUSD made a nice looking impulsive cycle from 0.70966 level and completed the red wave iii) at our 161.8 fibo. projection level. As we know, after any five wave move, a three wave correction follows, in our case in red wave iv). This may unfold later this week to around 0.72010 – 0.72170 area, where the previous black wave iv can react as a support. After the correction is completed, we may see higher levels.
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