AUDUSD Daily Butterfly Pattern

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Complimenting our AUDUSD Elliot Wave analysis suggesting we may be about to enter into a correction on this pair, we also have the pair having recently completed a large harmonic butterfly pattern on the daily chart. It is of note that although the pair traded for a short time above the completion level, it did not manage to close above there on the daily chart, instead, it formed a pin bar like candle. This may spell out the petering out of the bullish move, at least for the moment.