The Australian Dollar has continued to appreciate against its American rival. The price has updated the maximum of the first wave 1, which tells us that the third wave 3 is developing locally. According to the wave growth structure, the third wave of junior level iii of 3 is developing at the moment. If the presumption is correct, the pair will logically continue to rise to a level of 0.8400. The level of 0.7958 is critical in this scenario as the breakout will result in a further decline of the pair.
read more >>AUD/USD: wave analysis on 15.05.2015
Source: LiteForex Forex Technical Analysis and Forecasts 243 0