AUD/USD: weekly wave analysis

Weekly. The market keeps moving down within the downtrend [b]. Let’s analyze the layout of the wave (z), which is the final part of the correction [b].

Daily. Wave (z) consists of 3 waves A-B-C. Powerful decline at the beginning of the last week implies that the wave A isn’t over yet. This week we expect a decline.

H4. The pair’s likely making a small correction 4. When it’s over, we’ll see a bullish impulse 5, after which the pair will start developing another sideways wave (4). The approximate trajectory of the coming move is shown at the picture.

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