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    AUD/USD: wave analysis on 29.01.2016

    A correction is nearing the end. A decline is still possible.

    Assumingly, the fifth wave of the senior level continues forming within which a diagonal seems to be forming. Locally, an upward correction as the fourth wave is nearing the end, having reached the level of 0.7100. If the assumption is correct, after the breakdown and consolidation below the level of 0.7055, the pair continues falling to 0.6755. A critical for this scenario is the level of 0.7329.

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