The possibility of growth remains.

On the daily chart, the ascending third wave of the higher level (3) is being constructed, within which a correction has completed as the second wave 2 of (3) and wave 3 of (3) is being formed. At the moment, the local correction as the second wave of the lower level ii of 3 has ended and the formation of the third wave iii of 3 is observed, and wave (i) of iii is also developing. If the assumption is correct, the AUD/USD pair will rise to the area of 0.6727–0.6870. The level of 0.6556 is critical and stop-loss for this scenario.

Main scenario

Long positions are relevant above the level of 0.6556 with targets at 0.6727–0.6870. Implementation time: 7 days and more.

Alternative scenario

Breakdown and consolidation of the price below the level of 0.6556 will allow the trading instrument to continue its downward dynamics to the area of 0.6457–0.6355.