AUDNZD Short-term Elliot Wave Bearish Outlook

In the AUDNZD chart above, the price moved down in five waves from the high. According to Elliot Wave theory, a three-wave correction follows every impulse (five-waves) pattern.

In AUDNZD's case, the subsequent move took the form of a w-x-y double zigzag pattern which means that an impulse-corrective cycle is completed.

We can now expect the price to continue in the direction of the impulse move.

What's your thought on AUDNZD?