Elliott Wave Analysis: AUD/USD May See A Reversal Higher

AUD/USD fell in five waves downs from 0.7582 this week, which is a bearish pattern but a larger degree pattern suggest that it can be wave B) so we have to be aware of a new significant turn next week. But as always try to focus on minimum expectations, so no matter what the larger degree count is you still expect a three wave recovery because of that five wave fall to 0.7437. That been said, we would not be surprised to see pair traveling back above 0.7500.


AUD/USD Hourly Chart

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