AUD/USD: wave analysis

The pair may fall.

On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 5 of (5) forms. Now, an upward correction has ended as the fourth wave of the lower level iv of 5, and the wave v of 5 is forming. If the assumption is correct, the pair will fall to the levels of 0.6663–0.6545. In this scenario, critical stop loss level is 0.6935.

Main scenario

Short positions will become relevant during the correction, below the level of 0.6935 with the targets at 0.6663–0.6545. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price above the level of 0.6935 will let the pair grow to the level of 0.7080 and higher.

Scenario

  • Timeframe

    Weekly

  • Recommendation

    SELL

  • Entry Point

    0.6768

  • Take Profit

    0.6663, 0.6545

  • Stop Loss

    0.6830

  • Key Levels

    0.6545, 0.6663, 0.6935, 0.7080

Alternative scenario

  • Timeframe

    Weekly

  • Recommendation

    BUY STOP

  • Entry Point

    0.6940

  • Take Profit

    0.7080

  • Stop Loss

    0.6880

  • Key Levels

    0.6545, 0.6663, 0.6935, 0.7080

Tifia trading account

Open

AUD/USD forecast for today.