The pair is expected to grow.

The Australian dollar continues to steady. Supposedly, a bearish correction finished forming as a wave 2 which took the shape of an irregular plane with an extended wave с of 2. The price has pushed upwards from a level of 0.7590 and, apparently, a counter-trend impetus of junior level (i) has formed. If this assumption is correct and the price does not break the critical level 0.7590, it's logical to expect the pair to continue rising to the levels 0.7930–0.8160 after correction.

Trading tips

Buy the pair from corrections above the level of 0.7590 with targets at 0.7930–0.8160.

Alternative scenario

Breakout and consolidation below the level of 0.7590 will allow the pair to continue declining to the levels 0.7450-0.7400.

AUD/USD: wave analysis

AUD/USD: wave analysis

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