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Elliott Wave Forecast For AUD/USD

Sameer Kapoor 9 July 2013

Elliott Wave Forecast For AUD/USD The AUD/USD fell back to the lows on Friday but because of overlapping price action in the latest bearish waves and bullish divergence on the RSI we are still observing an ending diagonal placed in wave 5).

However, we could see another push down to 0.8900 before the pair forms a bottom. On the other hand, only a rise back above 0.9250 will suggest that ending diagonal is complete (ALT count on the chart).

Forex Analysis by Gregor Horvat at ForexPros. com