The pair decline continues.

Australian dollar continues declining. Supposedly, a development of the third wave of the senior level 3 continues, within which the first wave i of 3 in a form of a diagonal as well as its correction in a form of wave ii of 3 are formed. If the assumption is correct and the price does not break out the critical level of 0.7736, the pair continues falling towards 0.7287.

Trading tips

Open short positions from the correction, below 0.7736 with the target at 0.7287.

Alternative scenario

The breakout and consolidation above 0.7736 allows the pair to grow towards 0.7830-0.7900.

AUD/USD: wave analysis

AUD/USD: wave analysis

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