AUDUSD hit new highs around 0.9500 two weeks back from where we have seen a strong reversal in price. A fall has unfolded in an impulsive manner on the 4h time frame, so we suspect that the move is part of a bearish swing.
With that said, a five wave rally up in C) of 4) can be finished, so the market is expected to weaken now, back and through 0.9200/0.9220 zone in the days ahead.
AUDUSD Daily Elliott Wave AnalysisÂ
