AUD/USD: Correction 4 Completed, Waiting for a Drop in Impulse 5

In the long term, AUDUSD seems to be forming a global correction b of the cycle degree, taking the structure of the primary double zigzag.

As part of the actionary wave, two parts can be completed an impulse (A) and an intermediate correction (B) in the form of a triple zigzag W-X-Y-X-Z.

At the moment, an impulse (C) can be built, consisting of minor sub-waves 1-2-3-4-5.

It is assumed that impulse (C), like the previous impulse (A), will end at a minimum of 0.617.

Let’s look at the second scenario, in which you can see the incomplete intermediate correction (B).

There is a possibility that the correction (B) will take the form of a triple zigzag W-X-Y-X-Z, as in the first scenario, but its end will be slightly higher.

Most likely, in the last section we see the construction of a minor wave Z. This wave may end in the form of a minute double zigzag near 0.731.

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