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AUD/USD: wave analysis on 06.08.2015

The correction continues.

Assumingly, the third wave of the senior level 3 has formed and a local correction as the fourth wave 4 is forming. Locally, most likely the first three within the wave a of 4 has finished and the correction b of 4 is forming. If the assumption is correct, when the correction finishes, the pair will resume its growth towards 0.7470. The critical for this scenario is the level of 0.7230, the breakdown of which would lead to the further fall towards 0.7100-0.7000.

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