AUD/USD: Elliot wave analysis
Weekly. The pair keeps forming the wave III of the downside impulse.
Chart. Weekly AUD/USD
Daily. As we’ve expected, the pair has finished the wave (4) and kept declining in the wave (5).
Chart. Daily AUD/USD
H8. The wave (4) took form of a long horizontal correction. In the near term we expect a little decline in the wave (5). After that Australian dollar will start forming corrective wave , which may take form of a flat.
Chart. H8 AUD/USD
Roman Petuchov for FBS