#AUDUSD 4 HR Elliott Wave Update
The 4 hr Elliott Wave Update is showing the move down from the possible wave (4) high. It is possible that the spike up I have labeled as wave ii is wave 4 of a 5 wave move down. For the to be true it would have to reverse now and create a new low below .7475.
The count I am showing on the chart is a nested 1-2,i-ii and would be invalid at .7679. Breaking .7679 would bolster the idea that the pair is heading higher to .9000.
AUDUSD 4 HR Elliott Wave Chart