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AUD/USD: Elliot wave analysis

Weekly. AUD/USD keeps forming wave [IV] of C.

Chart. Weekly AUD/USD

Daily. For now the horizontal triangle is still in place. According to our marking, we’ll soon see growth in the wave [V].

Chart. Daily AUD/USD

H4. Wave С seems almost completed. It’s quite possible that we are witnessing upside impulse and corrective wave after it. If this assumption is correct, there will be growth from the current price. Alternative scenario: the breakthrough of the last low and the resumption of growth after such dip.

Chart. H4 AUD/USD 

By Roman Petuchov for FBS Markets Inc

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