So far NZD looks very strong, but I am looking at AUDUSD and USDCAD where I also expect higher commodity currencies but maybe from another swing low on aussie and swing high on lonnie. AUDUSD has a nice support coming in at 0.7080, from where we may see a recovery, especially if gold will also continue higher, either from here or from a new low.
AUDUSD is slowly turning to the downside from current 0.724 swing high which gives us an idea of a completed wave A) impulse, as part of a bigger recovery. Pullback as wave B) can now be in play, which can look for support and a bounce near the 0.707 level(level of a former swing high) or deeper around the 0.699-0.688 region, where Fibonacci ratios of 50.0 and 61.8 can react as support and turning points.
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Elliott Wave AUDUSD Charts: 1 Hr - ...looking closely, we can see current three legged recovery from the lows (0.705 level) as a possible wave iv, whi...
Elliott Wave AUDUSD Charts: 1 Hr -dropping from current swing high at 0.7104 level,...and that now final wave v is in play; 4 Hr - recovering since th...
Elliott Wave AUDUSD Charts: AUDUSD 1 Hr - has a nice support coming in at 0.7080, from where we may see a recovery, especially if gold will also conti...
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