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AUDUSD, Elliot Wave Analysis
2/16/2023 10:23 AMThe price is in a correction and a fall is possible.
On the daily chart, the first wave of the higher level (1) formed, a downward correction ended as the second wave (2), and the third wave (3) develops. Now, the entry first wave of the lower level i of 1 of (3) has formed, and a correction is developing as the second wave ii of 1 of (3), within which the wave (c) of ii is forming. If the assumption is correct, the AUD/USD pair will fall to the area of 0.6645–0.6524. In this scenario, critical stop loss level is 0.7027.
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