Elliott Wave Analysis: AUDUSD Trading Into Wave Five

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AUDUSD made a sharp and strong reaction higher, away from the previous wave 4) correction. This sharp reaction higher is now a suggestion and a confirmation that wave 4) correction is completed and that final wave 5) of C is in progress. Ideally current rise will later search for a top near the 0.81900/0.82100 region and from there make a new reversal lower.

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