Automatic wave scan: as of 5 Nov 2026, the automatic daily count for AUD/USD is Wave 5 down with a bearish bias. The count stays valid while price holds 0.70678.
Current AUD/USD wave count
Automatic wave scan Updated daily from the latest daily close (5 Nov 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 5, the final leg of a five wave decline that began at 0.72390 on 8 Sep 2026. Next levels to watch are 0.68706 and 0.68555. The count fails on a daily close above 0.70678.
Key levels
| Type | Levels |
|---|---|
| Resistance | 0.70678 · 0.70151 |
| Support | 0.68954 · 0.69052 |
| Invalidation | 0.70678 |
What is AUD/USD?
Australia is one of the world's largest exporters of iron ore, coal and natural gas, and China is its biggest trading partner. When demand for these exports rises, the Australian dollar usually strengthens.
The Reserve Bank of Australia sets the cash rate at meetings held eight times a year. The Aussie has also been a popular carry trade currency in periods when Australian rates were higher than those in the US.
What moves the AUD/USD price?
- China demand: Chinese data on industry and property often moves the Aussie.
- Commodity prices: Iron ore and metals prices tend to rise and fall with AUD/USD.
- RBA policy: Changes in the cash rate outlook drive medium term trends.
- Global risk mood: The Aussie rises when stocks rally and falls in risk-off periods.
How AUD/USD moves in Elliott Wave terms
AUD/USD often shows clear five-wave declines in risk-off periods and three-wave rebounds. Its waves tend to line up with turns in global stock indices, so comparing the count with the S&P 500 can help.
The pair often respects the 0.618 and 0.786 Fibonacci retracements, which makes it useful for wave 2 and wave B entries.
Tips for counting AUD/USD waves
Check Chinese data releases and the S&P 500 trend. Watch RBA meeting days for wave starts.
AUD/USD key facts
AUD/USD Elliott Wave FAQ
Why does AUD/USD follow commodities?
Australia exports large amounts of iron ore, coal and gas. Higher prices bring more money into the country and raise demand for Australian dollars.
How does China affect the Aussie?
China is Australia's largest trading partner, so strong Chinese growth usually supports the Australian dollar.
Is the Aussie a risk currency?
Yes. It tends to rise when global markets are confident and fall when investors look for safety.
Sources and further reading
- BIS Triennial Central Bank Survey of foreign exchange turnover (Bank for International Settlements)
- Cash rate target (Reserve Bank of Australia)
- Federal Open Market Committee (Federal Reserve)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
