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Australian Dollar Breaks Higher Following Strong Jobs Data
The Australian dollar is pushing and breaking strongly higher following robust jobs data from Australia. After the recent projected ABC running flat correction in wave 2, we are now seeing it extend higher within a projected wave 3. Currently, it appears to be rising within subwave “iii” of 3, leaving plenty of room for further gains. Traders should be aware of a potential subwave “iv” pullback before a bullish continuation into subwave “v” of 3. As long as the price remains above the 0.6728 invalidation level, the outlook remains bullish, and more upside can be expected in Aussie.
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