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Talking Points:
- AUDNZD Technical Strategy: Bearish
- Elliottwave Count: Current move is consolidation and be part of wave y
This pair can play either of below scenario:
Scenario 1: In scenario 1, pair need to push one more high towards 1.0875 before continue it's down trend and can be complete it's wave c of wave y. This level also a 61.8 fibbo retracement level from previous down trend.
Scenario 2: With this scenario, we are looking to mark correction complete, because most of the criteria is accomplished to mark correction complete. So we prefer to be on scenario 2, but still not avoiding scenario 1 to get better risk:reward ratio, we want to be on sideline before initiate any trade.
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