FX.co ★ Elliott wave analysis of AUD/USD for March 24, 2022

The Aussie dollar is forming a large Shoulder/Head/Shoulder bottom and is currently headed towards the neckline resistance near 0.7970 and a break above here will call for a continuation higher towards the S/H/S target at 1.0255 with strong resistance at 0.9400 underway higher, but first we need to see how the Aussie dollar handles itself near the neck-line resistance at 0.7970 that is going to be tested soon.

Support is now seen at 0.7321.