AUDUSD rallies as expected and discussed earlier. The minimum expectation is fibonacci 1.618 of Wave A or 1 as highlighted on charts, at 0.7370 levels. Also note that AUDUSD bounced higher from 0.7140 levels earlier, which is fibonacci 0.618 support of Wave A or 1. Unless an expanded flat structure is unfolding as Wave B or 2, it could be safe to assume that AUDUSD would print higher highs and higher lows towards 0.7370 levels. In either case, 0.7140 level is expected to act as a strong support now, for Wave C rally to build up higher. Please note that the next price resistance is also seen at 0.7370 levels, and bulls should remain poised to break higher till the above structure remains intact.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.