AUDUSD fell sharply lower with an extended structure from 0.7282 last week, so the move is most likely impulsive. If that’s true then the Aussie is headed for new lows, beneath 0.6905 in the coming days. We will be expecting a downward continuation after the current three wave rally is completed; ideally that will happen at current 0.7050-0.7080 resistance zone. If we are correct, then a sharp bearish move is on the way.
AUDUSD, 4H
