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AUD/USD: Elliot wave analysis

Weekly. AUD/USD continues the decline in the falling impulse wave III.

Chart. Weekly AUD/USD

Daily. We are witnessing formation of the corrective wave [4]. This wave may take for of a flat. In such case the decline in the wave [5] will start soon. On the other hand, this wave may take form of a long horizontal correction. In this case its formation will continue during the whole week.

Chart. Daily AUD/USD

H8. We see the final marking of the latest region. The final marking of the wave [4] isn’t clear yet. According to one scenario, it may soon be complete.

Chart. H8 AUD/USD

Roman Petuchov for FBS

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