A growth is expected.

Assumingly, a Bearish correction within the fourth wave in anticipated wedge within wave 1 has finished. Locally, the fifth wave seems to have started and if the assumption is correct, the pair continues growing towards 0.7450. A critical for this scenario is the level of 0.7060.

Trading tips

Buy the pair above the level of 0.7060 with targets at 0.7400, 0.7450.

Alternative scenario

The breakdown and consolidation below the level of 0.7060 would allow the pair to fall to 0.6900, 0.6800.

AUD/USD: wave analysis

AUD/USD: wave analysis

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