Elliott Wave Analysis: USDCAD And AUDUSD 

audusd-analysis

Gregor - Author BIO photoUSDCAD
USDCAD is turning down, now back at.13450-1.3470 area where pair can find a new support within current complex wave two correction which can be a flat. So for now, our view remains unchanged, as we still think that pair can see 1.3600 while 1.3337 level is not breached.

USDCAD, 1H

usdcad-analysis

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AUDUSD
I was stopped out on Aussie, which found some bid following bounce on metals as stocks turned slightly lower. As such, bounce on Aussie is not wave four, rather a correction of a higher degree, so ideally we are tracking wave E now, final leg in a big complex correction. We see first resistance now being tested at 0.7500, but there is also room for push up to 0.7580 resistance, especially if current whole recovery from 0.7310 is still only wave A).

AUDUSD, 1H

audusd-analysis

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By Gregor Horvat

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