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AUDUSD is turning up since Monday when the market found support at 0.7628 after a Sunday gap, so it looks like the pair is making a bigger wave 5) than before, as the leg up from 0.7486 can be in five waves, now still only in wave 3. That said, we have to be aware of a push up to 0.7900 or even 0.8000 in the days ahead. A break beneath 0.7628 will invalidate in the short-term view and put highs in place of a red wave 5).


audusd 4

USDCHF has turned sharply higher last week, clearly with an impulsive price action away from 100% Fibonacci level of wave A) compared to wave C). We have seen a very strong turn back above black wave 4 swing that puts a low in place so we need to be aware of an even more upside in the days ahead, back to 0.9790 with minimum three waves.