A pile of Australian dollar bills by RomanR via Shutterstock

Aussie Is Pointing Higher After Current Correction

Gregor Horvat Wavetraders Tue May 13, 8:47AM CDT
A pile of Australian dollar bills by RomanR via Shutterstock

AUDUSD made a very strong drop at the start of April that came out of a triangle as stocks turned in risk-off mode. It retested 2024 lows, but keep in mind that moves out of a triangle are final in a sequence, and we talked about that on April 10, when we spotted the bottom on a daily chart. CLICK HERE

So despite the strong sell-off, we are not surprised by the current reversal, which is very strong one and suggests that the pair can be bottoming, so be aware of more upside after current corrective setback in the 4-hour chart that can stop at 0.6300/0.6340 support for a flat.

Aussie Is Pointing Higher After Current Correction AUDUSD 4H Chart
AUDUSD 4H Chart
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For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on May 12 2025:

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