AUD/USD’s four-hour chart shows 0.69943 after recovering from 0.68941. The larger-degree wave 1 began at 0.72379 and is labelled complete at that low. The recovery therefore represents a potential wave 2, which may exceed 0.70149 without invalidating the count. The projected path allows a pullback toward approximately 0.6965 before another advance toward 0.7020.
- Trend: Corrective rally within a larger bearish structure.
- Trading Range: Broad visible boundaries at 0.68941–0.70149.
- Wave Structure: Larger-degree wave 1 complete; wave 2 potentially developing.
- Support: Around 0.6985–0.6990, then approximately 0.6965; 0.68941 remains pivotal.
- Resistance: 0.70149, then approximately 0.7020.
Will AUD/USD go up?
The count allows further corrective upside. Breaking 0.70149 supports recovery; losing 0.68941 challenges wave 1’s completion. Wave 2 cannot exceed 0.72379.