AUDUSD Drops down to tag yesterday missed pivot and reverses !

Details: I prefer to monitor 4m candles but TV makes us post 15m minimum. Still price action can be seen, 23rd began with price declining and at 00:01 in Asia decline accelerated for an hour before slowly reversing and churning for the next 8 hours to finally tag and reverse at the daily pivot just after 9am Asia. Minor 9:30a news of Construction Work report was market cover to drop like a rock in 2 impulses (typical Elliot zig-zag-zig) beyond S3 before finding support after 11a morning session completed. Slow, stealthy recovery underway with aim of May monthly pivot .76235 (and possible further targets of April missed pivots: 24th-.76290, 23rd-.76845, 20th-.77530).
.76300 area seems to be very high probability with confluence of the May monthly not yet hit and the 24 April miss, others up to .77530 as well but maybe not quite as high prob.
JM2CW!

تعليق:

Strong climb since late yesterday and through the nigfht from .75250 area. AUD spent today consolidating around and mostly above pivot in .75600 zone, expecting push higher tomorrow towards targets mentioned above.