After the first bearish reaction on the USD after US CPI yesterday, the currency turned down later during the US session. Probably it was due to higher 10 year US yields. Stocks also came down, which is supportive for the buck. EURUSD spiked to a new high but then finished the day lower, so it appears temporary top is in place at 1.15 and that new three wave set-back is now underway.
EUR/USD 4h Elliott Wave analysis
AUDUSD firstly hits new high yesterday and then stopped at 100% Fib equality level. More important, a turndown is now sharp and impulsive so ideally, it’s part of a higher degree three-wave structure that can send the pair again close to 0.7
AUD/USD 4h Elliott Wave analysis
