The pair is expected to grow.

The Australian Dollar continues to drop due to a bearish correction. The final wave c of 2 is nearing completion locally, with an impetus developing within. The price has reached a level of 62% (0.7740). If the price does not break the critical level of 0.7530, a reversal may form soon and the pair will start rising.

Trading tips

Buy above a level of 0.7761 with targets at 0.7930–0.8160.

Alternative scenario

Breakout and consolidation below the level of 0.7530 will allow the pair to continue declining to the levels 0.7450–0.74.

AUD/USD: wave analysis

AUD/USD: wave analysis

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