AUD will break down its support but bounce back then
The AUDUSD is poised to break below it's support.
The last polls shows 5 times more analyst expecting a rate cut of 25bps for the next April 7th meeting than the previous weeks.
78% chances for rate cut priced by the Mkts (Rtrs).
Even when previously have more preference for the gray wave count, the break below the wave ii (gray) discard this
idea and places more odds for an expanded triangle as wave iv).
As the down movement since iv) (black count) seems a single impulse this could be an small push lower the support to be bounced back short after, Should wait to see how this following up movement develops to better asses what will happen then.
The last polls shows 5 times more analyst expecting a rate cut of 25bps for the next April 7th meeting than the previous weeks.
78% chances for rate cut priced by the Mkts (Rtrs).
Even when previously have more preference for the gray wave count, the break below the wave ii (gray) discard this
idea and places more odds for an expanded triangle as wave iv).
As the down movement since iv) (black count) seems a single impulse this could be an small push lower the support to be bounced back short after, Should wait to see how this following up movement develops to better asses what will happen then.