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AUD/USD: wave analysis on 19.01.2016

A long-term descending trend resumed.

On Friday, the pair broke down the critical level of the Bullish scenario and continued falling. Most likely, the long-term Bearish trend resumed. At present, a Bearish impulse within the third wave 3 seems to be forming, within which the fifth wave of the junior level v of 3 is developing. If the assumption is correct, the pair is likely to fall to 0.6700, 0.6570. Critical for this scenario is the level of 0.7044.

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