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Chart of the Day:
Aud/Usd is still trading slowly lower towards the 0.8880 target zone; in the area where a Long turning point is expected. A black sub-wave V) is in progress now, and should complete a whole impulse decline from the 0.9326 top shown as a red wave I in our case.
Elliott wave traders will know that always when a five wave move is finished, a corrective reversal is expected. As such, we will look for a Long, red wave II reversal pattern once the near-term support is hit.
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