AUD/USD: Current Recovery May Cause Recycling

AUD/USD INTRADAY CHART

AUD/USD 60 Min Chart

BIAS: The current recovery may well cause a recycling…

Resistance: 0.7197 0.7210 0.7230-43 0.7259Support: 0.7171 0.7130-48 0.7108 0.7068

MAIN ANALYSIS: It seems we may be seeing a boomerang coming back – a recycling in a flat Wave i that should see the Wave ii between 0.7243-59. Make sure there are bearish reversal indications for losses to resume…

COUNTER ANALYSIS: Only a break above 0.7259 would suggest direct gains in (purple) Wave -b-…

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