Bears on AUDUSD Taking Over - Elliott Wave analysis

Good morning traders,

AUDUSD made a new high, and found a possible swing high at the 0.693 area, from where we can now see a drop to the downside. Ideally the flat correction within the wave b is completed, and a new, five-wave movement into wave c is in play. That said, we are tracking first five waves into sub-wave i) of c which can later be followed by a temporary a-b-c retracement.

Trade well,

The EW-Forecast team