Long term a bull market in the AUD dating back to last May appears to have topped at the highs of Feb 4. If this is true the AUD should see a significant amount of selling in the next few months.
There are two legitimate possibilities in the EW count from the Feb 4 top, bearish and hyper-bearish. In the bearish view the AUD is in the 5th and thus final leg of the first move down from the Feb 4th top. In the hyper-bearish view, that move is extending and is currently in the 3rd of the 3rd of the 3rd wave of the series. Obviously, in the hyper-bear scenario the selling should accelerate almost immediately and the AUD has quite a bit to go before any significant correction. So we should know which is correct fairly quickly.
AUD - hourly - bearish
AUD - hourly - hyper-bearish
