AUD/USD 4H | Wave 2 Pullback in Motion

AUD/USD is currently completing a corrective Wave (2) within a larger impulsive structure. After the peak of Wave (1) at 0.65145, price has been in a healthy retracement phase, now nearing key fib confluence zones.

🟣 EMA Confluence:
Price is reacting near the 100 & 200 EMA (0.6373–0.6394), which has acted as dynamic support throughout this structure.

We are currently holding above the 0.382 level, with the golden zone (0.618–0.705) sitting just below.

🔄 Bullish Continuation Scenario:
If the pair holds above 0.6285 and we see bullish confirmation candles, we may begin the next leg higher — Wave (3) — targeting 0.66250–0.66766 as initial projection zones.

📊 RSI:
The RSI is hovering just below the 50 level, showing temporary bearish pressure, but has room to recover if structure holds.

🧠 Plan:
📍 Watching 0.6285–0.6214 for final support
📍 Wave (3) target zone: 0.66500+
📍 Invalidation: Clean break and close below 0.6015

🔔 Wave (2) entries are where the patient traders shine. Eyes on structure, and let price do the heavy lifting.

WrightWayInvestments
WrightWayInvestments
WrightWayInvestments