Aussie can be bottoming

2 Nov 2023

Aussie is bearish since the start of the year, with a higher degree A-B-C decline with wave C coming to an end as the price turns out of a wedge pattern this week, after the FOMC policy announcement yesterday. It looks like pair completed the ending diagonal so more gains should follow. Well, from an Elliott wave perspective and minimum objective, I think that recovery can be in three waves at least back to former wave (4) to 0.6530 area.