A fall is expected.

A Bearish correction in wave 2 continues forming. At present, wave b of 2 seems to have formed and wave c of 2 started developing, within which a starting impulse of the junior level (i) has formed. If the assumption is correct and the price does not break out the critical level of 0.7327 the pair continues falling towards 0.7054.

Trading tips

Sell the pair below the level of 0.7327 with the target at 0.7054.

Alternative scenario

The breakout and consolidation above the level of 0.7327 would allow the pair to grow to 0.7500, 0.7600.

AUD/USD: wave analysis

AUD/USD: wave analysis

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