E AUD/USD Can Be Aiming Below 0.7330 This Year

AUD/USD is trading lower this year, and it took out an important trendline support and moved slightly below former wave 4) level as well. These are evidence of a completed wave IV at 2018 high which means that more downside can be expected this year as the price can be in big wave V. In the next few days price may drop to 0.7330 area to complete wave 1 before it turns higher for a wave 2 rally.

AUD/USD, Daily

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.