AUDUSD last rally (for now)

Hi Traders,

The AUDUSD (now at 0.8092) is performing the last rally to the area 0.82335-0.82635 before resuming the downtrend to 0.7267-0.7222 which should be the "final destination".

TARGETS

first up to

likely: 0.8154
possibly: 0.82335-0.82635

then down to

likely: 0.7694-0.7671
possibly: 0.7349-0.7304
maybe: 0.7267-0.7222

ELLIOTT WAVES

The daily chart displays that we are performing wave 4 (in red) to the area 0.82190 - 0.82587. The 4-hour chart reveals  instead that wave 3 (in blue) is not complete yet. Hence, there's plenty of room to move up to the area 0.82335-0.82635.

NOTE: Just bear in mind that once around 0.8162 it will correct to 0.8030 before jumping up again to the area 0.82335-0.82635.





monthly chart - click to enlarge



 



weekly chart - click to enlarge



 

daily chart - click to enlarge



 

4 hour chart - click to enlarge



 

1-hour chart - click to enlarge