Good day traders and a good Monday. Let’s look at AUD/USD.

The Aussie came nicely lower in the last few days from 0.7883 as expected after a corrective rally up in wave 2/B. At the moment we still do not know if the current leg down is going to be wave 3 or wave C while market trades at 0.7800 area, but we however would be looking much lower if price falls to 0.7768 soon, while it’s below 0.7856 resistance.

AUD/USD, 1H