AUDUSD has been falling hard for the last couple of months from 0.9400, a move that is a considered as an extended wave 3 because of big and fast move. As such, we believe that pair is in impulsive downtrend, it means that decline from July high needs to be made by five subwaves. If that's the case then one leg is still missing; we expect a break down into a wave 5 towards 0.8500 area to complete wave A) later this month, or at start of November.
AUDUSD Daily Elliott Wave Analysis
elliott wave audusd

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