Elliott Wave Analysis: USD/CHF Aims Higher After A Correction; AUD/NZD Expecting a Minor Consolidation

Technical analysis of Forex market

USDCHF just came into an important support area for wave 4 around ideal 38,2% Fibo. retracement and clearly with a three-wave a-b-c corrective decline. But, only if we see a strong bounce back above 1.0160 region, only then we may consider a completed correction and ongoing bullish continuation for wave 5.


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AUDNZD slowed down after a five-wave drop, so watch out for a bigger three-wave a)-b)-c) recovery into a potential wave »ii« before a bearish continuation back to the lows. Invalidation level remains at 1.0720.


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