Pair is in correction. Growth possibility remains.

Assumingly, a Bearish correction in a form of the fourth wave within anticipated wedge in wave 1 is nearing its end. Locally, a Bearish impulse within wave (c) of iv seems to be finishing and if the assumption is correct, the growth will resume shortly. A critical for this scenario is the level of 0.6933.

Trading tips

Buy the pair above the level of 0.6933 with targets at 0.7470, 0.7500.

Alternative scenario

The breakdown and consolidation below the level of 0.6933 would allow the pair to fall to 0.6800, 0.6700.

AUD/USD: wave analysis

AUD/USD: wave analysis




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