A correction is nearing the end. A growth is expected.

Assumingly, the first starting wave i within an expected upward trend has finished forming. Locally, a development of a “bearish” correction as the second wave ii is nearing the end. If the assumption is correct and the price does not break through the critical level of 0.6900, the pair resumes its growth in the short term.

Trading tips

Buy the pair above the level of 0.6900 with the target at 0.7400-0.7500.

Alternative scenario

The breakdown and consolidation below the level of 0.6900 would allow the pair to decline further to 0.6800-0.6700.

AUD/USD: wave analysis

AUD/USD: wave analysis

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