FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
32 0
Downward correction continues.

Assumingly, a downward correction in wave ii of 3 of the higher level continues forming. Locally, wave (c) of ii seems to be developing, within which the third wave iii of (c) has finished and a correction in wave iv of (c) is forming. If the assumption is correct, the pair is expected to continue falling towards the level of 0.7372. Critical for this scenario is the level of 0.7677.

Main scenario

Sell the pair below the level of 0.7677 with the target at 0.7372.

Alternative scenario

The breakout and consolidation above the level of 0.7677 would allow the pair to grow to 0.7900.
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