AUD/USD anticipates a downswing

July 22, 2016 09:49 AM
Elliott Wave Analysis: AUD/USD

Markets remains slow in tight ranges for the last 48 hours, but it appears that we may see some short-term breakouts today. On the Aussie dollar/U.S. dollar (AUD/USD) currency pair, I am still involved on the short side and looks like that new leg down can be in the cards for a drop to around 0.7410 with subwave five, where the pair can be looking for some support, maybe next week. 

AUD/USD, 1-hour


About the Author

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: