FX.co ★ Elliott wave analysis of AUD/USD for March 29, 2022

We have been looking for AUD/USD to move higher towards resistance near 0.8000 and we continue to look for that move higher, but short-term AUD/USD is facing temporary resistance near 0.7556 and we should expect a minor set-back to 0.7192 before the next push higher towards the 0.8000 target. Ultimately the 0.8000 target is expected to break and open up the upside for a continuation higher towards 1.0255, but that will be an analysis once resistance at 0.8000 breaks and the Aussie dollar flies higher. For now a temporary consolidation in the 0.7192 - 0.7556 should be expected before the next push higher.