AUDUSD more intraday downside expected before upside rally
The AUDUSD has completed its Wave Structure to the downside on the daily chart, this makes the Aussie bearish from a Long Term point of view.
As we know, after an impulsive wave, we should see a corrective wave that has already started.
We are shorting this from an Intraday Short Term basis, looking for a medium-term Buy position from 0.7263 area which corresponds to the -0.618 (T2) of the current 1hr correction that is going on.
We will not entertain any short above 0.7310.
As we know, after an impulsive wave, we should see a corrective wave that has already started.
We are shorting this from an Intraday Short Term basis, looking for a medium-term Buy position from 0.7263 area which corresponds to the -0.618 (T2) of the current 1hr correction that is going on.
We will not entertain any short above 0.7310.