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AUD/USD: wave analysis on 11.08.2015

The pair is in correction, a growth is expected.

Assumingly, a formation of the third wave of the senior level 3 is finished and the local correction in a form of the fourth wave 4 is forming. Locally, wave a of 4 in a shape of a diagonal seemed to have finished and a correction in a form of wave b of 4 is forming. If the assumption is correct, the pair resumes its growth towards 0.7500, 0.7535 after the correction is over. A critical for this scenario is the level of 0.7230, the breakdown of which would allow the pair to fall to 0.7100, 0.7000.

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