AUD/USD is trading in a larger corrective range, labeled as an unfolding A-B-C. We have seen five waves up develop which we labeled as wave A. We can also clearly count three waves down in wave B, thus the only plausible direction for this pair we think can be that more gains in wave C will follow. Resistance for this wave C we will be searching above the end point of wave A and we will look at 0.7520-50 as a potential reversal zone.

AUD/USD, 15Min