The trend is bullish in AUD/USD currency pair, 15 minutes time frame. The price of AUD/USD pair is going to rise up now on a short-term basis to print a corrective Bullish Double Zig Zag Elliott wave pattern and traders should look for a buy trade. Strong key support level is present at 0.7640 price level.
The price action in AUD/USD currency pair has completed bearish wave b pull back and now the market is going to rise up more to complete the Bullish Double Zig Zag corrective wave pattern, W, X and Y. Based on Elliott Wave analysis, bullish wave c is now in progress. So, I expect the market to resume the uptrend and rise towards 0.7670 price area. Next, price action is most likely going to prints a top as well in coming trading hours after completing wave c bullish leg.
Currently, bullish wave c which is part of the Bullish Double Zig Zag pattern looks incomplete. So, a good idea is to look for a possible Buy trading chance to join an up-trend around 0.7649 price area as the price is most likely going to rise up towards 0.7670 price level. However; if the price of AUD/USD breaks below 0.7640 vital support level then up trend is going to fail. In such a market scenario, it would be best not to trade the market and re-analyze the AUD/USD fifteen minutes chart.
