Elliott Wave Analysis: Bulls Taking Over AUD/USD

AUD/USD is recovering sharply from the 0.683 level, where a potential low for sub-wave c of Y had been found. Current sharp rally can now be part of a minimum three-wave recovery, that can take price towards the 0.702 level. We labelled first wave a/i in progress, which can look for resistance near the upper corrective channel line (0.6966 area).

AUDUSD, 4h

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