FX.co ★ AUD/USD

Hello traders, I am interested in the four-hour timeframe of AUD/USD. I was expecting a decline for this pair this week, but it did not happen. I predicted a drop to the 50% Fibonacci retracement level, but the price rebounded and formed a correction within the day. On the hourly chart, there is a target of 0.7000 within the ascending correction. I expect the price to rise to this level, and then we will either see a reversal or a breakout and further growth. I am more interested in the second scenario. I think AUD/USD will rise to the 14.6% resistance and then return to the descending correction towards the key target of 61.8% at 0.6720. This is all under ideal circumstances. The past trading week has shown that anything can be expected.