AUDUSD is nicely falling away from 0.7988 level, where corrective blue wave b found a top. We can see that Fibonacci ratio of 61.8 also proved to be good region of resistance and helped push price lower. That said, we now think blue wave c can take price lower towards the 0.7760/0.7650 in upcoming sessions.
On the second scenario, we see price trading in a bearish reversal, with recent temporary recovery representing corrective wave 2, with more weakness to follow.
AUDUSD, 4H
