AUDUSD Upside Resumes as Pullback Attracts Buyers

AUDUSD is recovering very nicely, as we identified that the three-wave retracement from the March highs likely completed at 0.6833, followed by a strong move out of the corrective channel, which confirmed that the trend is turning back to bullish. Price traveled above 0.7190 highs, showing strong upside momentum from the March low. At the same time, price tested impulse channel resistance, so the current slowdown is not a surprise. More importantly, pullback has unfolded now in a three legs as shown on 4h TF, which is another bullish structure that pointing even higher into higher degree wave V for next week.