In my AUDUSD Forecast (23 May 2012), I indicated that the AUDUSD decline may be ready for a rally. Since then, prices have shot up strongly suggesting that may wavecount may be in effect.
Weekly Chart
The strong green candlestick suggest that we may be having a rally starting.
15min Chart
I’m counting the wave upwards as impulsive waves. Looking at a wave v to be completed before I see a wave 4 decline.
