Bottom Is Near For AUD/USD
The aussie is at a new low, and hit 61.8% extension of wave B) where we could see a bottom formation. Reason is also the wave count, which shows a five wave of decline from 1.0473, so at least a three wave bounce should follow as EW theory says. But the trend, however, is still clearly bearish, and low unconfirmed until we see an impulse up, through EW channel resistance line.
