AUDUSD potential Wave C or 3 progressing towards 0.7370

The AUDUSD short term story remains intact for now with bulls in control since 0.7140 levels. It was expected and discussed earlier that the pair could be setting up a decent rally projected through 0.7370 levels, which also converges with earlier price resistance. Looking into the wave structure, it seems that Wave 3 or C is well into progress at this point and could even push higher towards 0.7370 before producing a meaningful pullback. A safe trading strategy from here could be to remain long and look for intraday dips to add further positions. It could be a better strategy to reduce risk to 0.7140 levels now.


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