AUD/USD - Wave ii still ongoing, but for how much longer?

Faliuer to break below support at 89.70 has prolonged wave ii. Resistance is now found at 91.50, which should mark the absolute high of wave ii.

As can be seen on the 5 min. chart below, a five wave structure can be seen from the low 89.76 and the small triangle forwarns that a top is nearby. We do need a break below 89.76 to finally call the top, but it should be a low-risk area to sell AUD in front of the 91.50 area.

A break below 89.76 will be first serious indication, that a top is in place for a continuation lower towards support at 88.05 and a break here will confirm the top.