The pair continues to decline.

The Australian dollar continues to decline. The third wave of the senior-level 3 continues to develop, within which, apparently, the bearish impetus as the third wave iii of 3 has finished. Locally, an upward correction within the fourth wave towards 0.7520 is likely to form, and, if the assumption is correct and the price does not break through the critical level 0.7736, the pair continues falling towards 0.7287 after the correction finishes.

Trading tips

Sell the couple from corrections, below 0.7580, with the target at 0.7287.

Alternative scenario

The breakout and consolidation above the level 0.7580 would allow the pair to continue growing towards 0.7830-0.7900.

AUD/USD: wave analysis

AUD/USD: wave analysis

Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

Follow us in social networks!
Live Chat
Leave feedback