AUD/USD Elliott Wave Analysis: Triangle Complete, Wave i Done at 0.7033 — Wave ii Targets 0.6967–0.6950
AUD/USD has resolved a large contracting triangle and launched a new impulse. With wave i complete, the EWPlans chart maps a wave ii pullback before wave iii. Here is the breakdown.
Elliott Wave Analysis: Where Is AUD/USD Right Now?
The Contracting Triangle:
Between the converging blue trendlines, an (a)-(b)-(c)-(d)-(e) triangle developed:
(d)/c: peak near 0.72378 at the upper boundary, with a ③-④-⑤ internal structure
(e)/c: low near 0.68940 at the lower boundary, with a ①-②-③-④-⑤ internal structure
The New Impulse:
From the (e) low, a five-wave sequence (①-②-③-④-⑤) completed wave i near 0.7033.
Wave ii — Now Beginning:
Price at 0.70216 is starting to pull back. The mapped targets are:
0.5 Fibonacci: 0.69668
0.618 Fibonacci: 0.69496
Expected Scenario and Potential Moves
AUD/USD declines toward the 0.6967–0.6950 zone, after which the chart shows wave iii resuming higher.
Key levels:
0.72378: triangle upper boundary
0.70747 / 0.71402: resistance references
0.70332: wave i high
0.70216: current price
0.69668 / 0.69496: wave ii targets
0.68940: Invalid Level
Strategic Perspective for Traders
0.6967–0.6950 is the key zone to watch for wave ii completion.
0.68940 is the risk reference — a close below it invalidates the count.
RBA policy, China data and DXY are the main macro variables.
Conclusion — Follow AUD/USD’s Wave Structure With EWPlans
AUD/USD’s triangle is complete and wave i is done; a wave ii pullback to 0.6967–0.6950 is mapped ahead of wave iii.
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