On the 4-hour chart of AUDUSD there is a clear five-wave impulse to the upside. Starting from the 0.8650s, it seems that the rally is temporary limited to 0.9504, where the ending diagonal in the position of wave 5 seems to have ended.
According to the Elliott Wave Principle, after every five waves, a three-wave correction should be expected. So, this is exactly what we are waiting for now in AUDUSD. If this is the correct count, the 0.91 zone could be revisited, before the uptrend resumes in wave (3)/C.
