AUS2200, Elliott Analysis. This index had an upward trend in the past always, and has not grown much after the recent fall (due to the Corona virus).
Low risk and I expect it to grow well.
Audindex
AUD index at bullish channel supportAUD has been one of the the top 3 strongest currencies since early April but like all trends there is an ebb and flow. My AUD index has been trending nicely within a bullish channel and if it can hold this support line we could see another impulse. Ideally I want to see price close above the channel support line. If not we are at risk of invalidating the channel. If price closes below the EMA, the idea will be invalidated. GBP, USD, JPY and EUR look like great counterparts to pair with AUD. Watching for good trends and high quality entry points.
AUD/USD daily- Reflecting down off its 20 simple MAAUD/USD daily- Reflecting down off its 20 simple MA
Also, must reflect down below its 38.2% fib retracement level at 60.92
