Bigger, bearish, impulsive structure (meaning with five legs) on Aussie can be completed, as we see a sharp recovery from the 0.668 regions, which can already be part of a three-wave reversal. The current three-wave move can take price towards 0.6898 minimum target region, however once minor wave b)/ii) correction fully develops.
AUDUSD, 4h
NZDUSD made a five-wave drop like Aussie from the 0.679 area and is now also recovering from the lows. We labeled a minimum three-wave rally in progress, with a minimum target near the 0.658 area.
NZDUSD, 4h
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Are Bulls Back in Business on AUDUSD and NZDUSD? – Elliott wave Analysis
