AUD/USD maintains a bullish outlook on the 4-hour chart, with the displayed price at 0.70152. The Elliott Wave count shows a developing five-wave advance from the labeled blue wave i low, with green waves (1)–(4) identified and wave (5) projected toward 0.7055–0.7060, potentially completing red wave A. Since October 23, the pair has continued its upward structure, although the projected fifth-wave peak remains unconfirmed. The blue path anticipates a corrective decline toward approximately 0.7005 before another potential recovery toward 0.7040. The chart explicitly marks 0.69940 as invalidation. Holding above that level supports the bullish structure, while a sustained break below it would challenge the current wave interpretation.
Technical Summary of AUD/USD Price for October 26, 2026
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Trend: Bullish.
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Current Elliott Wave: Green wave (5) projected to complete red wave A.
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Key Support Levels: Approximately 0.7005 (projected correction); 0.69940 (invalidation).
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Key Resistance Levels: 0.7040 (approximate recent highs); 0.7055–0.7060 (projected).
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Next Price Target: 0.7055–0.7060, followed by a potential correction toward 0.7005.
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Invalidation Level: 0.69940 (annotated).
Trader's Question: Can AUD/USD complete wave (5) before entering a correction?
The ascending wave structure supports a potential advance toward 0.7055–0.7060, but a subsequent pullback toward 0.7005 remains possible without invalidating the broader bullish outlook.