The AUDUSD has fallen below the trendline that had held since late January but there is no sign of a reversal as the decline still counts better as a correction.
“The rally from .8952 is wave C of a large 5th wave diagonal that could extend to a measured objective just below 1.00 in coming weeks (.9936).” Not until we see a 5 down or a drop below .9273 would we consider adopting a bearish bias. Sings of strength ahead of .9273 would prompt a trade from the long side.