AUD/USD

AUD/USD: wave analysis

The probability of growth remains.. On the daily timeframe, the upward correction is developing as a wave 2 of (5)

Presumably, a wave a of 2 has formed, and wave b of 2 is developing, within which the downward impulse of the lower wave (a) of b was completed. If the assumption is correct, then a corrective growth of the pair can continue to the level of 0.7305. A critical level for this scenario would be 0.7164.

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Main scenario

Long positions will become relevant above the level of 0.7164 with the target at 0.7305. Implementation period: 3–5 days.

Alternative scenario

Breakdown and consolidation of the price below the level of 0.7164 will allow the pair to decline to the level of 0.7022.

 

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 0.7211
Take Profit 0.7305
Stop Loss 0.7164
Key Levels 0.7022, 0.7164, 0.7305

 

Alternative scenario

 

Recommendation SELL STOP
Entry Point 0.7160
Take Profit 0.7022
Stop Loss 0.7220
Key Levels 0.7022, 0.7164, 0.7305

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