Aussie can be rallying in a five-wave move, labeled as a higher degree wave 1, up from 0.699 level. At the moment we see price ending a sub-wave 5) of 1 at the highs, as price started turning to the downside. That said a further impulsive drop below the lower corrective channel line will suggest a temporary top in place for a wave 1, and a three-wave correction underway for a wave 2.
4h, audusd (Image not shown due to low ratings)
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