Commentary: We wrote yesterday that “the rally from .8753 is corrective (A-B-C) to this point. However, that can change if price exceeds .9068. Price remained below .9068 and the Aussie has fallen. Unless the pair is in a larger correction (complex W-X-Y), price should continue lower and come under .8753. Maintain a bearish stance against .9015.”
The AUDUSD has declined but the complex correction scenario remains very much a possibility. That is the count we are showing today. A potential end to the rally is .9130.
Strategy: Flat