Just before Christmas teh RBA Governor wanted to see the Aussie at 75c and was quite open about that fact. So I can't really be Aussie centric at this point. The Dollar remains strong and is likely till that rate decision rares its head.
The pair looks to be in a 5th subwave of the AB=CD. We see that nice pivot indicating a shallow 4th wave completion. If I am right (I have already shorted this +119 ticks at this stage) then we could see a further push lower into 0.7911 before a reaction at the 32.8. Ultimately a break would mean a re-entry 0.7708 before the longs get brave.
The pair looks to be in a 5th subwave of the AB=CD. We see that nice pivot indicating a shallow 4th wave completion. If I am right (I have already shorted this +119 ticks at this stage) then we could see a further push lower into 0.7911 before a reaction at the 32.8. Ultimately a break would mean a re-entry 0.7708 before the longs get brave.