AUDUSD is trading south as expected after only three wave rally from 0.9327 up to 0.9470. We labeled that move as wave (ii)/(b), so in either case we were looking for a drop to a new low of July. 0.9327 has been taken out now it means that new bearish impulse is now underway, ideally we are in blue wave (iii) of an impulse and not wave (c) of a correction, but in both cases we expect a drop down to between 0.9220-0.9250 area as projected target for the near-term swings. 

This Move Was Already Anticipated On Past Article
AUDUSD 4h Elliott Wave Analysis 

audusd elliott wave

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