AUDUSD seems to be forming a zigzag consisting of primary waves Ⓐ-Ⓑ-Ⓒ.
With waves Ⓐ and Ⓑ complete, we can expect wave Ⓒ to complete the bullish pattern soon.
Bulls have managed to complete minor sub-waves 1 and 2. We can expect the market to continue moving up in sub-waves 3-4-5 near 0.746.
The target would respect the tenancy of primary impulse waves Ⓐ and Ⓒ to be equal.
An alternative view suggests that the entire bullish move is a triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag.
The first three parts of the complex correction are complete. We can now expect wave Ⓧ.
We could see the market weaken near 0.667, where wave Ⓧ is expected to end.
The target is on the support line of the ascending channel connecting intermediate waves (B) of waves Ⓦ and Ⓨ.
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