AudUsd Mid-term Analysis

The price, which broke the main resistance level after the FED's rate cut that exceeded expectations, has retested the broken resistance level today, turning it into a support level. In the main trend movement, we expect the price to complete the Elliott 3rd wave around the 0.7000 level. Afterward, we anticipate a corrective drop to the main support level of 0.68, followed by another rise for the 5th wave.

For more detailed information, you can check our DXY analysis.