the AUD/USD seems ready for a bullish ABC zigzag pattern towards the Fibonacci levels of wave 4 (purple).
The AUD/USD seems to be building a bullish retracement within the downtrend as long as the price stays below the 50% Fibonacci retracement level.
The AUD/USD seems to have completed 5 bullish waves within wave A (blue) and 3 bearish waves within wave B (blue). The bullish breakout above the resistance trend line (red) could indicate a confirmation of the zigzag pattern.
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Chris Svorcik Elite CurrenSea