Technically, AUD/USD will hit the mark near 0.7816 which is a very strong level suggested by , and 50%.
I will show you a weekly chart later to give you another point of view and a bigger picture.
Let's compare the previous strong structure in mid September.
How's strong it was?
2) Another (double confirmation for SHORT position)
3) Previous Divergence converted into Convergence
4) 8 & 20 crossover down
5) Tenkan-sen & Kijun-sen crossover
6) are plunged into green cloud
As we know that no structures will be repeated twice. What we found the current price 0.787 is lying near previous senkou span of the red cloud and 38.2%. It was also stuck inside the in July and August last year (highlighted in the left graph). That's why the current shows a . You may also see the previous , the bulls tried to push the price up higher (formed a long shadow) near 20 but bears draw them down and closed at the lowest. That's means it is the game for the bears at this moment.
From the left chart, our possible targets obviously are Fib Ret 50% & 61.8%. They are also strong supports in last year.
From the right chart, our possible target has only one. i.e. 0.7816. We may need a huge rebounce in order to let the green cloud to form a red cloud. Therefore we expect AUD/USD is in a correction.