HomeContributorsTechnical AnalysisAUD/USD: Elliott Waves are Pointing Lower, But RBA Can Cause a New...

AUD/USD: Elliott Waves are Pointing Lower, But RBA Can Cause a New Bounce

Aussie is coming down very sharply and impulsively, ahead of RBA this week, so looks like technically are pointing down, but RBA hawks can be back after latest jump in CPI figures. Any hawkish view and further hike in the months ahead would certainly be supportive for the aussie, but maybe only temporary up for a B wave. Some support is at 0.673, ideally for the end if first wave A. TRhis A belongs to a higher degree corrective drop.

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