The AUD/USD pair is correcting upwards around 0.6726 against the background of the negative dynamics of the US dollar.

The price is in a correction and may grow.

On the daily chart, the upward third wave of the higher level (3) develops, within which the wave 3 of (3) formed. Now, a correction has developed as the second wave of the lower level ii of 3, and the third wave iii of 3 has started, within which the wave (i) of iii has ended, and a correction is ending as the wave (ii) of iii. If the assumption is correct, the AUD/USD pair will grow to the area of 0.7000–0.7162. In this scenario, critical stop loss level is 0.6560.

The AUD/USD pair is testing the 0.6665 mark for a breakout, trying to retreat from the lows of August 16, tested yesterday: the corrective decline of the Australian dollar stopped after the publication of macroeconomic data and comments by the head of the Reserve Bank of Australia (RBA) Michelle Bullock in support of tight monetary policy.

The AUD/USD pair is testing 0.6665 for a breakout, trying to retreat from the local lows of August 16, which were tested today.