Against the positive dynamics of the American currency, the AUD/USD pair is moving in a downward trend, trading at the level of 0.6978, despite positive macroeconomic statistics from Australia.

The probability of growth remains.

On the daily chart, the ascending third wave of the higher level (3) and the first wave of the lower level 1 of (3) have begun. Currently, the fifth wave v of 1 is developing, within which the third wave (iii) of v and the correction as the fourth wave (iv) of v have completed, and the fifth wave (v) of v is forming. If the assumption is correct, the AUD/USD pair will rise toward the 0.7350–0.7500 area. The critical stop loss level for this scenario is 0.6900.

After four weeks of continuous decline, the AUD/USD pair is correcting upwards, trading around 0.6975.