AUDUSD extended
its weakness in the last few sessions within wave (iii) which can be counted
now in five smaller waves. As such, support for current decline could be near,
maybe around 0.9800 from where we will be tracking a wave (iv) corrective rally
if we see evidences of a temporary low. If that will prove correct then traders
should keep an eye on levels around 1.0000 where we can see wave four swing of
one lower degree, plus a lower base channel line that could react as a
resistance as well. Any shorts in such case should have stops above 1.0152
critical region as wave four must not trade into a territory of a wave one.
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