AUD/USD - At important support

Is currently testing important support at 99.72, a break below here will trigger a large Shoulde/Head/Shoulder top for a decline to at least the 87 - 88 area.

From an Elliott Wave perspective I see the rally from the 2001 low at 47.73 as a double zig-zag correction (see the chart below). A break below 99.72 will confirm 110.80 as a long term important top calling for a decline towards at least the 79 - 81 area, but we will likely see it even lower.