The AUD/USD pair is trading nicely higher today, as we can see on the updated chart in the final wave C), which can see limited upside around the 261.8 Fibonacci ratio. We are expecting limited upside and a bearish reversal to occur, because of the triangle correction that was located in the previous wave B). As we know triangle corrections unfold prior to the final wave. So current push up on AUDUSD is regarded as the final wave. That said a five wave fall from current levels and a break beneath the 0.7634 level would indicate a completed wave C) and lower levels to follow.

AUD/USD, 1H