AUDUSD made a sharp fall last week, which we now see as a trigger and an indication for a wave three in progress. As such we can say, that a running flat correction was completed in the previous wave 2, at the 0.7558 level. A running flat correction is like a normal flat, the only difference is that wave C) of a running flat does not breach the end of wave A), as in our case. That said, we now expect pair to stay bearish in sessions ahead, and ideally unfold a five wave movement within the current bigger wave three that can be underway down to 0.7250 or even 0.7130.
AUDUSD, 4H
