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AUD/USD: Wave analysis on 23.03.2015

The Australian dollar has reversed for a correction. A bearish impetus is still likely to develop within a daily timeframe. Supposedly, the third wave (3) has formed by now and a local correction in a form of fourth wave (4) has started developing, with the first wave (a) developing within.  If this assumption is correct and the price does not break the critical level 0.7610, the pair will logically continue to rise to the level of 0.7980.

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