Elliott Wave Analysis: AUDNZD Making A Perfect Example

On the Weekly chart of AUDNZD, we are observing a nice five wave move sequence to the downside with its three wave contra-trend move that is still in the making. For now we see that blue wave A has unfolded in impulsive fashion and wave B in three waves. We think that price could now in in the next month make a reversal higher into blue wave C, possibly touching the 50.00% Fibonacci ratio.

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