AUDUSD update (rising wave scenario)

AUDUSD is currently in the 4 hour demand zone. A rebound from here and again above the blue support line will increase the chances that AUDUSD is on an uptrend. The reason is that the starting point is a 4-hour bullish pattern that rises from the weekly demand zone and becomes a 4-hour bullish wave.
If so, we may see a renewing high.

However, if the rebound fails in the 4-hour demand zone and fails to settle above the blue support line, we will see the bottom again.

Watch the action today near that blue support line.