A growth possibility remains.

Assumingly, a Bearish correction within wave 2 has formed. At present, a downward impulse within wave c of 2 seems to have finished and a starting impulse of the junior level i of (i) has formed. If the assumption is correct, the pair continues growing towards 0.7300, 0.7500. Critical for this scenario is the level of 0.6904.

Trading tips

Buy the pair above the level of 0.6904 with targets at 0.7300, 0.7500.

Alternative scenario

The breakdown and consolidation below the level of 0.6904 would allow the pair to fall to 0.6800, 0.6700.

AUD/USD: wave analysis

AUD/USD: wave analysis

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