AUD/USD Short term Elliott Wave analysis suggests decline to 0.7731 ended Primary wave ((W)) on 10/6 low. Bounce in Primary wave ((X)) is proposed to be unfolding as a double three Elliott Wave structure. Intermediate wave (W) of ((X)) ended at 0.7897 and Intermediate wave (X) of ((X)) pullback is in progress as a zigzag Elliott Wave structure. Down from 0.7897 high, Minor wave A is proposed complete at 0.7832. While Minor wave B bounce stays below 0.7897, pair should turn lower in Minor wave C of (X) to correct cycle from 10/6 low. Afterwards, as far as pivot at 10/6 low (0.7731) stays intact, expect pair to resume higher.
AUD/USD 1 Hour Elliott Wave Chart
