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audnzd - impulsive long-term advance

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This pair has a lot of upside potential and appears to be entering wave 3 in a series of 1s and 2s. See charts below for the bigger picture. There is the possibility for a deeper wave 2 here, but at the moment it looks unlikely.

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The bigger picture could be 1/2 or A/B, but bullish either way

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still very bullish but this morning's move could be a ABC, with B as a triangle. The origin--A--looks like three waves. Fortunately with this pair right now, areas / limits are defined well.

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alternatively if this blasts off here, which looks much more likely with all the impulse waves, then we're entering a relentless third wave now

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probable correction near-term

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missed a mark. Probably back to wave (iv)

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looking for wave (iv) then wave (v) of inner wave iii of 3

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wave (iv) of iii still ongoing in a series of 3s, so perhaps a tri

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possible wave iv of wave 3 underway. Need some more movement for clarity.

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Looks like iv. There should be decent support into c. 1.500

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still tracking this as iv of 3, it appears corrective, so another up move likely, and this pair tends to like longer fifth waves.

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Technically it's done enough for the correction, so if it breaks out we will know it's over. Failure will suggest a bit more correcting for iv....

Given the size of this correction compared to ii, there is a forced count where this could actually be wave ii of 3, rather than iv of 3 as labelled. Bullish either way.

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I've decided to relabel this, because the size of the current correction invalidates the idea that it's iv in relation to ii. Therefore it's more likely to be ii of 3, which forces a slight truncation of actual 2. The correction is choppy, and it appears to need another low for C of Y. If that doesn't appear, a break above current resistance would trigger a long move.

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This pair remains bullish. Immediate question is if we're looking at a 1-2-1-2 count from the ii low, or if this will be just 3 up and a further correction back towards what's currently labelled as ii. Give the bulls the edge on this.

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There is a data gap in the chart on 2 January. The whole up move does not appear as 5 after all. At the moment it seems we'll make at least one more low to complete 5 waves for either C or 3. If the latter, then another low beneath 2 Jan. Still bullish even if a new low.