During this year the Aussie eases 3.76%. Follow with us what to expect from the AUDUSD pair for the coming days in our short-term vision.
Our outlook
After a bearish zig-zag sequence, the AUDUSD 1-hour chart shows a short-term bullish cycle. The first upward movement started at 0.66771 when the price completed a second equal leg of the zig-zag pattern. The surpass of previous wave 4 of minute degree (blue label), activated a reversal scenario.
Our most probable scenario is to expect for a new motive wave scenario. Currently, the best count suggests for AUDUSD the wave 2 of minute degree. We foresee a reaction from the area between 0.67884 and 0.67334, which should give way to new climbs with potential profit targets between 0.6922 to 0.6962. The invalidation level is at 0.6693.