Aussie is trapped in a big triangle, currently slowing down at the upper side of a big range; possibly completing subwave (D) at 0.6770 - 0.6800 area as discussed in our past updates. As such, we should be aware of slower and possibly deeper pullback now as wave (E), final leg of a triangle is underway. However, any deeper pullback will be seen as a corrective move, that sooner or later, will take pair even higher. Support on dips is at 0.6500- 0.6600 area.
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On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.