AUD/USD: wave (iii) is about to start
We’ve got a wedge in wave [i], which led to form a zigzag in wave [ii]. Moreover, there’s an impulse in wave (i), so bears are likely going to deliver wave (iii) in the short term. The main intraday target is 0/8 Murrey Math Level (P=200).
There’s a quite small wedge in wave a of (ii) on the one-hour chart. In this case, it’s likely that wave c of (ii) is going to be continued. If a pullback from 4/8 MM Level be on the table, there’ll be a chance to see a bearish impulse in wave i.