Elliott Wave Bias - AUD/USD

After breaking below the December low, the AUDUSD has found strong support from the confluence of the 200 day SMA / channel support.  A break of this area is required to inspire confidence in the bearish bias (against 8935).  If the decline from 9055 is a 3rd wave, then the decline should extend to at least 8400, which is the 161.8% extension of wave 1. 

Bias: SHORT