With good resistance at 0.95286, the AUDUSD
is expected to fall. Elliot wave
correction has finished at 0.97576, so with a retest of 0.95286, it will complete the 2nd correction wave of the downtrend and continue its third wave down (impulse leg). This also confirms with the cypher pattern
which should complete at 0.90769 (green box) and form the kill zone for re-entry to go long.
Update on 14th Nov :-
Guys, half way there. Now it is testing support at 0.92942. If the daily candle closes below that, good chance it will continue its move down to at least the 0.9200 regions which would make a good risk/reward.