(Click on image to enlarge)

In the long term, AUDUSD seems to be forming a large cycle correction b. This correction has the structure of a primary double zigzag Ⓦ-Ⓧ-Ⓨ.

Inside the actionary wave Ⓨ, two parts can be completed, i.e., the impulse (A) and the intermediate correction (B) in the form of a triple zigzag W-X-Y-X-Z.

At the time of writing, an impulse (C) can be built, consisting of minor sub-waves 1-2-3-4-5.

There is a high probability that the impulse (C) will end at the minimum of 0.617, which was marked by the impulse wave (A).

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The alternative chart shows an incomplete intermediate correction (B).

The indicated correction (B) has a complex internal structure of the triple zigzag W-X-Y-X-Z, as in the first scenario, but its end is expected at a higher level.

It is assumed that in the last section, we see the construction of a minor wave Z. This wave may end in the form of a minute double zigzag near 0.732.

At the level of 0.732, correction (B) will be at 76.4% of impulse (A).

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