Preferred Elliott wave count suggests that rally to 0.776 ended wave ((w)) and wave ((x)) pullback is proposed complete at 0.7673. Rally from there is unfolding as a double three where wave w ended at 0.7723 and while wave x pullback stays above 0.7606, expect pair to resume higher.
A break below 0.7606 suggests pair can extend lower to 0.7566 – 0.7596 area as a triple three from 8/11 peak to complete wave ((x)) before pair resumes higher or at least bounce in 3 waves. We don’t like selling the proposed pullback.
AUD/USD Chart:
