The AUD/USD pair is moving within the medium-term downward trend, correcting upward with the support of the macroeconomic statistics.

The AUD/USD pair shows weak growth, developing the "bullish" momentum formed the day before. The instrument is testing 0.6450 for a breakout, updating local highs from April 15 and receiving support from macroeconomic data.

After an eight-day decline, the AUD/USD pair adjusted to the nearest resistance level of 0.6450, but further growth is likely to be limited.

During the Asian session, the AUD/USD pair tested the level of 0.6400 for a breakdown, renewing the lows of November 14 against poor macroeconomic statistics.

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 a downward correction formed as the second wave 2 of (3), and the wave 3 of (3) develops. Now, the first wave of the lower level i of 3 has formed, and a local correction is ending as the second wave ii of 3, within which the wave (c) of ii is ending. If the assumption is correct, after the correction, the AUD/USD pair will grow to the area of 0.6665–0.6870. In this scenario, critical stop loss level is 0.6266.