A growth is still possible.

Assumingly, a formation of the fifth wave of the senior level 5 has finished. Currently, a beginning of a new upward trend seems to be forming, within which, assumingly, an impetus as the first wave is developing. Locally, an extension of the third wave of the junior level (iii) is forming. If the assumption is correct and the price does not break down the critical level of 0.7080, the pair continues growing to 0.7330-0.7400.

Trading tips

Buy the pair from corrections, above the level of 0.7080 with targets at 0.7330-0.7400.

Alternative scenario

The breakdown and consolidation below the level of 0.7080 would allow the pair to continue declining to 0.6900-0.6800.

AUD/USD: wave analysis

AUD/USD: wave analysis

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