$AUD /USD selloff continues as Dollar strength drives momentum
AUDUSD is in a very strong decline and it looks like we are still in wave C, that I was afraid a bit last week when we saw the dollar keep moving higher, while stocks also closed at the lows. Looking at the updated wave structure, we are now observing a decline in wave C. This wave should ideally be structured by five subwaves, but that is not really done yet, so there could still be more weakness ahead. I see room for more downside toward the 0.6900 to 0.6920 area, where wave C would be equal to wave A. That is the first support zone to watch for some stabilization, maybe already in the second half of the week.