The AUD/USD pair is correcting in an uptrend at 0.6525 amid positive macroeconomic statistics.

The Australian dollar is showing mixed trading in the AUD/USD pair, poised to end the week with modest gains: the day before, the instrument managed to update the local highs from October 30, approaching the level of 0.6580; however, the price failed to consolidate at new highs and by the end of the daily session, the "bears" managed to seize the initiative.

The AUD/USD pair is approaching the October high of 0.6615, supported by positive macroeconomic statistics from Australia. In October, employment changed by 42.2K against a forecast of 20.0K. The previous figure was revised from 14.9K to 12.8K, and full employment from 6.5K to 55.3K, while unemployment fell from 4.4% to 4.3%. The Q3 lending accelerated from 2.2% to 4.7% instead of the expected 2.5%, and real estate investment increased by 17.6% compared to the estimated 4.0%.

Growth is possible.

On the daily chart, the third wave of the highest level (3) and the wave 1 of (3) develop. Now, the third wave of the lowest level iii of 1 is forming, within which the wave (i) of iii and the correctional wave (ii) of iii have ended, and the wave (iii) of iii is forming. If the assumption is correct, the AUD/USD pair will grow to the area of 0.6800–0.6940. In this scenario, the critical stop loss level is 0.6457.

The AUD/USD pair is actively losing value for the second week in a row, having tested 0.6470 today (Murrey level [0/8]). Quotes remain under pressure amid the likely suspension of monetary easing by the US Federal Reserve in December.