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    AUD/USD: wave analysis on 11.02.2016

    The pair is in a correction.

    Assumingly, the fifth wave within a long-term Bearish trend has finished forming. Locally, the first wave in the shape of a diagonal seems to have formed, and there is a formation of a correction as the second wave, within which, assumingly, a zigzag is forming. If the assumption is correct, the pair continues growing to 0.7565 after the correction ends. A critical for this scenario is the level of 0.6827.

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