Elliott Wave Analysis: AUDUSD Trading In A Temporary Correction

Aussie turned up last week after better than expected AUD employment data. From a technical perspective we adjusted the wave count as current bounce is part of a minimum three wave recovery since it turned up impulsive in the first part, labeled as red wave A). As such, there will be more upside coming now within an A)-B)-C) structure which may stop near 0.7640. Bigger picture remains potentially bearish for Aussie as long as 0.7747 holds.