AUDUSD Impulse Part of Triple Zig-Zag

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The current AUDUSD structure hints to the end of a triple zigzag in wave Ⓑ.

The final wave, wave (Z), consists of minor sub-waves A-B-C. With waves A and B complete, the impulse seen in wave C is under development. This last minor-degree move consists of a 5-wave minute-degree sub-wave.

Four out of five waves are complete and now we can expect wave ⓥ to end its course.

Prices could rise up to 0.667 in wave ⓥ. At that level, wave Ⓑ will be at 78.6% of wave Ⓐ.

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We should consider an alternative scenario. According to this, the bearish wave (X) of the triple zigzag was completed at the most recent low. This scenario sees wave (X) as a running flat.

In this case, we now see the development of a minor correction which has its wave A complete. Wave B could end near 0.648, as this is the 61.8% of wave A.

Then, we can expect prices to rise in wave C near 0.667, at 78.6% of wave Ⓐ.

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