On the updated chart of AUDUSD, we are looking at a higher degree wave E taking place, with price trading in the first leg A) that could be as of recent intraday activity completed. If that is the case, then wave A) may have found a top around the 0.7568 level and current price development could be the start of a new leg in sub-wave B of B). A confirmation for a top in place and lower levels to follow into wave B) would be a break beneath the corrective channel line.
The updated count suggest an expanded flat to be in progress, where black wave B moves and ends beyond the start point of wave A.
AUDUSD, 4H
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