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.
Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.