A growth is expected.

Assumingly, a bearish correction in a form of the second wave ii has finished. Locally, a development of the third wave seems to have started. If the assumption is correct, a growth in the pair is expected in the near future. A critical for this scenario is the level of 0.6935.

Trading tips

Buy the pair above the level of 0.6935 with targets at 0.7400, 0.7500.

Alternative scenario

The breakdown and consolidation below the level of 0.6935 would allow the pair to fall to 0.6800, 0.6700.

AUD/USD: wave analysis

AUD/USD: wave analysis

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