AUD is looking bearish against the USD as we see a nice triangle forming in wave 4. Well, maybe a pattern is already completed after the recent three waves up in wave (e) so the price could go south soon, but real confirmation would be a break of wave (d) low. So until then, we may see a retest of the 0.8820/30 area.
AUDUSD 1h Elliott Wave Analysis
The USD is also showing a bullish path against the CAD after the recent three wave decline from 1.1384 with a recent bounce from waves c=a equality level. That’s a nice structure that is pointing for a higher USDCAD in the sessions ahead. The break above 1.1300 may put accelerations up to 1.1340.
USDCAD 1h Elliott Wave Analysis
