Elliott Wave Analysis On AUDUSD And USDCAD
Good morning traders!
Stocks and energy markets are down early this morning which puts some pressures on commodity currencies that are weakening at the moment against USD. It appears that AUD, NZD and CAD are in fifth wave now that may continue through the day.
ON Aussie price found sellers around 0.7570 where market turned down into wave 5 that can see more weakness to around 0.7480 through the next few sessions.
AUDUSD, 1H
USDCAD can be in same situation; we see nice bounce from 1.3020-1.3060 support region where pair completed forth wave pullback that send price up into wave 5 to hit new highs already today.
USDCAD, 1H
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