AUDUSD has five waves up, so current move off the highs represents part of a three wave set-back. Keep an eye on a)-b)-c) formation before market turns up and attacks 0.8957.
AUDUSD 1h Elliott Wave Analysis
If AUDUSD is up and EURUSD is pointing to the downside then EURAUD should stay in bearish mode. We see five waves down from the top so it looks like EURAUD will continue lower, but could see test of 1.5400-1.5430 region before downtrend resumes.
EURAUD 4h Elliott Wave Analysis
Written by www.ew-forecast.com