AUD/USD: Wave Analysis Report 27 May 2021

May 27, 2021

The pair may fall. 

On the daily chart, the first wave of the higher level (1) of C developed, and a downward correction forms as the wave (2) of C. Now, the wave A of (2) has formed, the wave B of (2) has ended, and the development of the wave C of (2) has started, within which the wave ii of C has ended. If the assumption is correct, the pair will fall to the levels of 0.7410–0.7036. In this scenario, critical stop loss level is 0.7895. 

Main Scenario 

Short positions will become relevant during the correction, below the level of 0.7895 with the targets at 0.7410–0.7036. Implementation period: 7 days and more. 

Alternative Scenario 

The breakout and the consolidation of the price above the level of 0.7895 will let the pair grow to the levels of 0.8008–0.8150. 


Timeframe: Weekly

Recommendation: Sell

Entry Point: 0.7741

Take Profit: 0.7410, 0.7036

Stop Loss: 0.7895

Key Levels: 0.7036, 0.7410, 0.7895, 0.8008, 0.8150 

Alternative Scenario 

Timeframe: Weekly

Recommendation: Buy Stop

Entry Point: 0.7900

Take Profit: 0.8008, 0.8150

Stop Loss: 0.7840

Key Levels: 0.7036, 0.7410, 0.7895, 0.8008, 0.8150