This pair, short term, is still bullish.
Correction from 11/5/08 high 1.3117 is likely to end soon, nearby 1.2650.
Then, it will resume upside moving started from 11/4/08 low 1.2525 (the end of wave B, and the beginning of wave C), and likely exceeds 1.3296 before downside correction again.
short term, aud/usd likely has a tendency going to test 0.7000/20, even 0.7050/65 resistance zone.
* If breaks, it could extend to nearby 0.7238.
* Otherwise, it is going to continue downside correction again, and likely toward 0.6400, even 0.6200/50 territory before resuming upside moving.