The Australian Dollar is turning upwards.

Assumingly, the formation of the fifth wave of the senior level 5 has finished. Locally, as it seems, the development of the last fifth wave v of 5 of the junior level has finished, and a starting upward impetus is forming. If the assumption is correct and the price does not break through the critical level of 0.6903, the pair continues growing towards 0.7400.

Trading tips

Buy the pair above the level of 0.6903 with the target at 0.7400.

Alternative scenario

The breakdown and consolidation below the level of 0.6903 would allow the pair to decline further to 0.6800-0.6700.

AUD/USD: wave analysis

AUD/USD: wave analysis

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