AUDUSD 4 HR Elliott Wave Count
I don't actual have any wave counts on here as I am just showing some support and resistance areas and the overall structure I am looking at right now.
From the .6670 low you can see a clear 3 wave corrective move higher to .7032. From that .7032 high the pair had a nice move lower but I do not believe it is a completed structure and needs another leg lower before it is complete. That other leg lower may have started today at .69336. With that said I would NOT be surprised to see this current move lower hold above .6850 and the pair make a slight new high above todays high before the before moving back lower to the .6754 area.
A break of the RSI trendline will tell us that this leg up from the .6850 area is complete. What it will NOT tell us is if there will be another leg higher before breaking down to the .6753 area.
