Timeframe: 4h
The chart appears to be unfolding impulsive waves of a corrective structure within a larger downtrend, and the current wave count suggests we’re potentially entering wave (5) of a C-wave decline. The main count shows a five-wave move downward, while the alternate counts (ALT: A, ALT: B, ALT: C) provide a flexible view depending on how price action develops further.
AUD/CHF has completed wave B of wave (4) at 0.50428 and is now rising to form the final wave C of wave (4), which could occur near 0.53553, the 100% extension of wave (A). Traders can target wave C for a short-term bullish setup. After the completion of wave (4), traders can consider selling with the following targets: 0.52600 – 0.50900 – 0.49800.
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