AUD/USD Stalls as China Concerns and Fed Outlook Weigh on Risk Currencies

Published 03/10/2026, 06:04 AM

AUD/USD has only made a three-wave rise from the 0.6943 lows, and price is now back in a sideways consolidation. It still looks like a higher degree wave four is underway, and based on the latest developments, this correction could even take the form of a triangle. The question is whether this would be a triangle in wave four or wave B, but in either case, it suggests the correction is not finished yet.

If AUD/USD slips back below 0.6975, then watch out for a final leg down that could later form a bottom around 0.6896. That area may offer a much more attractive support for longs, rather than chasing the pair here.
AUD/USD-1-Hr Chart

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