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AUD/USD: High Probability Price Will Fall Again to a Minimum of 0.617

In the long run, AUDUSD seems to be forming a global correction b of the cycle degree, which may soon end in the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ.

In a zigzag actionary wave, two parts can be completed – an impulse (A) and an intermediate correction (B) in the form of a triple zigzag.

In the last section of the chart, the initial part of the final impulse (C) can develop, the structure of which is schematically shown by trend lines.

There is a high probability that impulse (C), like the previous impulse (A), will end at a minimum of 0.617.

An alternative scenario is indicative of the continuation of price growth in the intermediate correction (B).

Perhaps it will take the form of a triple zigzag W-X-Y-X-Z, as in the first scenario, however, its end is expected a little higher.

Most likely, after the end of the zigzag intervening wave X in the form of a minute zigzag, the price will continue to rise in the final minor wave Z to 0.731.

At that level, correction (B) will be at 76.4% of impulse (A).

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