AUDUSD is moving straight down from 0.9400 where we labeled end of a corrective rally in wave 2/B. Current sharp decline is definitely an impulsive price action, but because of much stronger decline compared to wave 1/A we see huge possibilities that market is now in wave 3 and not wave C. With that said, there is room for much lower AUD in days ahead, so be aware of more weakness after any three wave bounce. Ideally we will see a correction soon, back to 0.9230/40 from where we would look for a new sell-off. From a larger perspective we expect decline to 0.9000.
this bearish move on audusd was already anticipated on our past update.
AUDUSD 4h Elliott Wave Analysis
audusd elliott wave

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