aud-usd-15-MTrend is bearish in AUD/USD currency pair in 15 Minutes time frame. Short term resistance is present at 0.7777 price level and price is falling down.

Based on Elliott wave analysis, I expect price to drop more towards 0.7570 price level in coming trading hours. The drop is price looks like the start of bearish Elliott wave 3 leg.

A good idea is to take a sell trade and join the down trend in AUD/USD currency pair. However; if price of AUD/USD currency pair is going to rise above 0.7777 resistance level then I would prefer to stop myself from trading and re-analyze the price action in AUD/USD currency pair in fifteen minutes time frame.

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