AUD/USD made a sharp fall recently from 0.7555, 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. 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 the pair to stay bearish in sessions ahead, and ideally, it will continue lower after a sub-wave 2) corrective rally that may find resistance near 0.7440.
AUD/USD, 4H
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