Good Sunday traders! Hope you had a nice weekend, and a pleasant Sunday. Let's take a look at AUDUSD and its mid-term look.
AUDUSD may have recently completed a higher degree three-wave correction within wave IV. Recent drop that followed, away from the 0.8150 region can be an early indication of a change in trend and more weakness to follow. If so, then current weakness can be sub-wave 1) of a bigger five-wave drop, which may unfold in weeks to follow. That said, a decisive breach below the 0.7700 region would suggest even more weakness to come.
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