AUDUSD – Moves higher in an AB=CD formation; Bullish above 1.0300

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AUDUSD – The dip was bought and the rally sold yesterday resulting in AUDUSD posting little net change for the day. However, the pair has traded higher overnight as we correct upwards in this larger 3 wave pattern. Trading could be mixed and volatile but support is seen at 1.0313, so downside pressure should be limited. With these facts in mind our call today is Bullish above 1.0300


The profit targets are 1.0353, 1.0380 and 1.0410.

The risk would be selling through a stop of 1.0300