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AUDUSD seems to be forming a zigzag consisting of primary waves Ⓐ-Ⓑ-Ⓒ.

With waves Ⓐ and Ⓑ complete, we can expect wave Ⓒ to complete the bullish pattern soon.

Bulls have managed to complete minor sub-waves 1 and 2. We can expect the market to continue moving up in sub-waves 3-4-5 near 0.746.

The target would respect the tenancy of primary impulse waves Ⓐ and Ⓒ to be equal.audusd

An alternative view suggests that the entire bullish move is a triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag.

The first three parts of the complex correction are complete. We can now expect wave Ⓧ.

We could see the market weaken near 0.667, where wave Ⓧ is expected to end.

The target is on the support line of the ascending channel connecting intermediate waves (B) of waves Ⓦ and Ⓨ.

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