The primary view for the AUD/USD remains on tract as the larger degree correction thought to be in wave ((X)) (correcting the cycle from 0.8297 high) with upside favoring a move in the direction of the 0.7961 – 0.8015 zone before the southern journey continues. Though a bounce is probable in the short term, we prefer selling rallies towards the 0.7961 – 0.8015 area against the 1.618 extension provided that the pivot contains upside pressure.

Regardless of what the number is as far as (X) low is in place, we look for a move higher toward 0.7961 -0.8015 area which would offer a selling opportunity as far as pivot at 0.8297 high remains intact.