Markets are slow with US stocks trapped in range as everyone waiting on the US CPI tomorrow. As such, the buck is also mostly slow, moving sideways, but still looking corrective on intraday chart, so we think there can be more upside coming. Break above 1.1449 puts bulls in play.
EUR/USD 4h Elliott Wave analysis
The latest recovery on Aussie is sharp and impulsive with price breaking the channel resistance line, so it appears that the market is bottoming. It can be only a temporary recovery as part of a wave C of a higher degree irregular correction, but even under this scenario there is room for more gains into subwave C)/3). Break above 0.7166 would make room for further strength this week.
AUD/USD 4h Elliott Wave analysis
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