AUD/USD Daily – Classic corrective into the low?
6 July 2018/9:23 a.m. ET
View: No change.
AUD/USD Daily [last 0.7421]: Breaking the move from the 0.8135 high (1/26/18) to the 0.7314 low (0.7308) represents a symmetrical zig zag A-B-C wave decline; whereby Wave C is only two pips off the equality length of Wave A. Momentum, as measured by MACD, put in a classic divergence (price low not matched by momentum low) and is now turning higher. Key Resistance: 0.7443 (tested today) Support: 0.7316 (swing low)