7 Apr 2015
AUD/USD has room for much lower levels – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, uses Elliott Wave Analysis to give the outlook for AUD/USD.
Key Quotes
“AUDUSD fell to a new low as expected, so we see prices in wave (5) now that can extend even down to 0.7200 level where we see 38,2% projection of wave (3) distance measured from end of a blue wave (4). As such, there is room for much lower levels for Aussie that can be reached in April. Trend remains down as long as price trades beneath the trendline connected from blue waves (2) and (4).”
Key Quotes
“AUDUSD fell to a new low as expected, so we see prices in wave (5) now that can extend even down to 0.7200 level where we see 38,2% projection of wave (3) distance measured from end of a blue wave (4). As such, there is room for much lower levels for Aussie that can be reached in April. Trend remains down as long as price trades beneath the trendline connected from blue waves (2) and (4).”