The AUD/USD currency pair is turning down from 0.7834 high for the last two weeks where wave C-circled might completed a big corrective wave IV, which looks like a flat. On the lower time frames, AUD/USD has made five waves down from 0.7836 which is the most important and strong evidence of a bearish trend.
Today we have European Union GDP figures and Retail Sales data in the United States coming out. Both are very important reports. Stock markets continue its fall overnight and the U.S. dollar index continues its advance.