Contributors Technical Analysis AUDUSD Is Eyeing 0.702, While USDCHF Aims For 1.005 – Elliott Wave...

AUDUSD Is Eyeing 0.702, While USDCHF Aims For 1.005 – Elliott Wave Analysis

USDCHF is unraveling a five-wave rally from the 0.9543 lows with price currently ending wave iv of an uptrend. Wave iv can look for support at the lower Elliott wave channel line from where wave v can follow, towards 1.005 region.

USDCHF, 1h

AUDUSD is slowly dropping, down from 0.714 level, which is a sign of a completed wave 4 correction, and that more weakness may follow into wave 5. A break below the upper channel line is an early evidence of a completed pullback, so ideally 0.702 area is in view.

AUDUSD, 1h

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