AUD/USD is correcting back within a short-term uptrend.
It will probably eventually find support and resume its bullish bias.
The pair may have formed a Measured Move with a target for ending wave at 0.6680.
AUD/USD is trading in the 0.6590s on Tuesday as it continues correcting back from its May 3 high above 0.6600.
The pull back is probably only a temporary correction. The rising sequence of peaks and troughs on the 4-hour chart suggest the pair is in a short-term uptrend, which given the old adage that “the trend is your friend”, is biased to eventually continue higher
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