The pair is expected to decline.

The AUD is falling again. The correction within a wave 2 continues in the form of irregular plane. Supposedly, a wave c of 2 is developing now, with an impetus expected to form within up to a level of 0.7740. The level of 0.8158 is critical in this scenario as the breakout will result in a further growth of the pair.

Trading tips

Sell the pair from correction below the level of 0.8158 with a target at 0.7740.

Alternative scenario

Breakout and consolidation above the level of 0.8158 will allow the pair to continue the rise up to the levels of 0.8400–0.8500.

AUD/USD: wave analysis

AUD/USD: wave analysis




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