The pair is likely to grow.

Presumably, the third wave of the senior level 3 is being developed. Locally, it is likely that the first wave i of 3is being formed, within which the third wave of the junior level is being developed (iii) of i of 3. If this assumption is correct and the price does not break down the critical level of 0.7640, the pair can continue to rise up to 0.7960–0.8160.

Trading tips

Buy the pair from correction above the level of 0.7640 with the target of 0.7960–0.8160.

Alternative scenario

Breakdown and consolidation of the price below the level of 0.7640 will enable the pair to continue to decline to 0.7500.

AUD/USD: wave analysis

AUD/USD: wave analysis

 




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