AUDUSD is reversing from the low, now trading well above 0.9300. In fact, rally from the low can be considered as motive wave that is part of a larger recovery. Therefore we think that pair completed wave 1/A as leading diagonal and that current recovery represents a temporary rally in wave 1/A that may look for a resistance around 0.9380-0.9400 area. From a bigger perspective we still assume that AUDUSD found its peak at 0.9504 back in July and that AUDUSD will break lower rather than higher.
AUDUSD 4h Elliott Wave Analysis
audusd elliott wave