Key Points
- AUD/USD has rebounded from the deeper Fibonacci correction, recovering above 0.7000.
- Red wave B remains provisionally complete near the 61.8% retracement.
- A brief pullback could precede another advance toward 0.70432.
Australian Dollar Rate: AUD/USD traded at 0.70095 at 6:38 a.m. New York time. The four-hour chart records a daily high of 0.70222 and low of 0.69543, against an opening rate of 0.69662.
AUDUSD Elliott Wave Analysis
The recovery anticipated in the November 3 Elliott Wave assessment has gained traction, with the Australian dollar advancing from the corrective lows.
The updated structure retains red wave B near the 61.8% Fibonacci region, following the earlier ending diagonal that marked wave A.
The latest rebound supports the possibility that the correction has concluded, although its completion remains provisional.
The blue projection allows a modest retracement before another upward extension toward the 0.70432 reference. No additional numerical upside target is established.
Technical Analysis for November 4, 2026
- Trend: Corrective recovery developing.
- Wave Structure: Red B provisionally complete.
- Upside Reference: 0.70432.
- Invalidation: 0.68941.
Trader's Question: Does the recovery above 0.7000 confirm a sustained bullish move?
Not independently. The rebound supports the proposed wave count, but further price development is required to establish a sustained advance.