AUD has displayed strength lately, but do we have a firm bottom in place at 0.8656?
I don't think so. I think we are looking at an expanded flat correction as wave 2 and that renewed downside pressure should be seen soon. If my count is correct we will likely see wave 2 end near 0.9281, but it's possible wave 2 will move closer to 0.9386 before a top is in place and wave 3 lower takes over for a powerful decline towards at least 0.8320 and more likely even lower towards 0.7740.
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