FX.co ★ Elliott wave analysis of AUD/USD for December 14, 2021

We are still looking for wave c/ of B moving higher towards 0.8000 to complete wave B and set the stage for the final decline in wave C. The decline in wave should be an impulsive decline and will likely move all the way down to 0.6743 to complete wave C and 2 before the next impulsive rally takes over for a rally well beyond the peak of wave 1 at 0.8007.

It's of course possible, that wave B completed already at 0.7555 and wave C lower towards 0.6743 already is in motion. Under this count AUD/USD needs to stay below 0.7347 and continue directly lower towards 0.6743 to complete wave C.