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AUDUSD, Elliot Wave Analysis
8/18/2022 11:20 AMA fall is possible.
On the daily chart, the first wave of the higher level (1) of C ended and a downward correction develops as the wave (2) of C, within which the wave C of (2) develops. Now, the third wave of the lower level iii of C has formed, a local correction has formed as the fourth wave iv of C and the fifth wave v of C is forming. If the assumption is correct, the AUD/USD pair will fall to the area of 0.6600–0.6450. In this scenario, critical stop loss level is 0.7134.
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