Elliott Wave Analysis: AUD/USD Dropping From Current Swing High

AUD/USD is dropping from current swing high at 0.7104 level, giving us an idea that maybe a triangle correction had fully shown up within wave iv and that now final wave v is in play. In such case be aware more weakness, which can later look for support and a bounce near the Fibonacci ratio of 38.2/61.8, from where a minimum three-wave reversal may follow.

AUD/USD, 1h

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