FX.co ★ Elliott wave analysis of AUDUSD for April 26, 2022

We continue to look for the Aussie dollar to move higher towards 0.800 to complete wave B of the large corrective wave that began in February 2021 Once wave B completes we should renewed downside pressure towards the 61.8% corrective target at 0.6999 in a major flat correction.

Short-term we expect the minor corrective decline from 0.7661 has completed and a new rally is in the cards towards the long-term target at 0.8000.