AUD/USD

The lower part of the corrective target area between 0.9287 - 0.9401 has been tested. However, it seems like we lack more upside pressure once this small wave iv of C is over and I expect to see a move closer to 0.9358 before this ongoing wave 2 is over and renewed downside pressure should be expected.

At this point only a break below support at 0.9133 will indicate that wave 2 has terminated and wave 3 lower is developing for a move below 0.8656.