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AUD/USD Elliott Wave Analysis
Although aussie retreated after marginal rise to 0.7750 and consolidation below this level would take place with initial downside bias, reckon 0.7580-85 would limit downside and bring rebound later, above said resistance at 0.7750 would extend recent rise from 0.7158 to previous chart resistance at 0.7778 but break there is needed to retain bullishness and signal another leg of major corrective upmove from 0.6827 low is underway for headway to 0.7835 resistance first, then 0.7900, however, psychological resistance at 0.8000 should hold from here. We are keeping our count that top has been formed at 1.1081 (wave 5 ... (full story)