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AUD/USD: Elliot wave analysis

Weekly. The pair keeps forming the declining wave III.

Chart. Weekly AUD/USD

Daily. The pair has probably completed the correctional wave [4]. This is supported by the fact that the wave (C) ended at around 161.8% of wave (A) - the most common Fibonacci ratio. Thus, in the near future we expect a decline in wave [5].

Chart. Daily AUD/USD

H8. The structure of the upcoming movement is represented at the picture. It’s possible that in the near future we’ll see a small upward correction wave, and then decline will continue.

Chart. H8 AUD/USD


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