AUDUSD has turned up in the past few months, but most likely only temporary as rally from the low is having an overlapping structure. We know that this is a characteristics of a contra-trend price action, so trend remains bearish for now within impulse that is in play since mid-2014. Ideally, market is now breaking lower, down into wave (5) after recent push beneath the channel line. That said, an impulsive decline could unfold towards April lows.
AUDUSD Daily Elliott Wave Analysis
audusd elliott wave

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