The updated AUDUSD 4-hour chart shows no material change in the Elliott Wave scenario presented earlier today. Price has edged from 0.70312 to 0.70318, while the projected purple wave 4 pullback and subsequent wave 5 advance remain pending. The broader structure continues to anticipate completion of green wave (5) and red wave A near 0.70700–0.70800, following the labeled purple wave 3 high. A temporary decline toward the projected wave 4 endpoint could precede the final upward extension. The chart retains 0.70094 as the downside reference, while the blue projection indicates a subsequent bearish reversal toward the 0.70000 area. Neither the projected wave A completion nor the ensuing decline has been confirmed.
Technical Summary of AUDUSD for October 29, 2026
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Trend: Short-term bullish correction; subsequent bearish reversal projected.
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Current Elliott Wave: Purple 3 labeled; purple 4 and 5 projected within green (5) and red A.
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Key Support Levels: 0.70094; 0.70000.
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Key Resistance Levels: Approximately 0.70400; 0.70700–0.70800.
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Next Price Target: Approximately 0.70700–0.70800, followed by a projected decline toward 0.70000.