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 . 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 .
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