AUD/USD is about to finalize a Contracting Triangle within Subminuette Wave x and should trigger a Bearish Subminuette Wave y in order to finalize the wxy Complex Structure in Minuette Wave (iv).
In other words, a Breakout is approaching.
There is also a Harmonic AB=CD Bearish Pattern present within the Contracting Triangle.
* Conservative way of trading this Breakout would be to wait for the actual Breach and then look for a Flag Formation.
Short Position:
Entry – 0.76650
SL – 0.77000
TP – 0.76000