AUDUSD - Monthly timeframe analysisIn the monthly timeframe on AUDUSD we are currently still correcting within the range of the first impulse which commenced on March 2020 and finished in February 2021 (first light blue arrow - upside).
Initially (November 2022), standing the impulsive way the pair started moving to the upside, we thought the correction was over - at the (A) - and we were total upside from that moment onwards. In the following months it instead became clear that we were going for a much bigger and longer correction. Why is this relevant to us now?
Well, because we believe that we (just) started the "c" wave of that correction (pink arrow, downside), which should be a pretty fast and impulsive move with good short opportunities all along the way.