AUDUSD Cycle Correction Hints At Decline

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The current AUDUSD structure hints that the primary triple zigzag cycle wave b has completed.

Impulsive wave (C) reached equality with wave (A) at the level of 0.757.

It is likely that the currency pair could fall to the minimum below 0.726, created by minor correction 4.

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An alternative scenario shows that the primary triple zigzag has not yet ended.

At the time of writing, the third minor wave of the intermediate impulse (C) is under development.

We are currently seeing a decline in correction 4, and this could end near 0.750. At that level, the specified correction will be at 23.6% of impulse 3.

Finally, minor wave 5 may complete the intermediate impulse (C) near 0.768. At that level, wave 5 will be at 76.4% of wave 3.

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