Expectation on AUDUSD (6/5/24 - 10/5/24)

5/5/24 - We can see AUD has came up to the previous sell off price and price failed to continue above but closed below follow up with another negative candle. I expect this to be Phase 2 high by AUD and right now it may try to find its support to complete Phase 2 before continue to offer out creating Phase 3.

I'll be monitoring the development of candles at 1700 and 2100 (GMT+8) to understand if AUD is planning to do Phase 3.

All the best traders. - Nav