Aud/Usd moved lower during Asian session, driven by lower stocks prices and formed a clear corrective decline from 1.0181 region, called a double zig-zag pattern in wave 4. Bottom of this choppy overlapping structure should be very near, so no doubt, new highs are expected!Guest post by Gregor Horvat
Traders must be aware that corrections always appear against the larger trend, which is definitely bullish on Aud/Usd. Upside targets around 1.0250 should open once the upper side of a corrective channel is broken
1h chart:
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