Daily FX Elliot Wave Outlook Report (AUDUSD, NZDUSD, USDCAD & USDSGD)
AUDUSD
We prefer to view that the pair is still in wave [b] consolidation while the near term support 1.0220 holds. Immediate term resistance is at 1.0340/1.0375. A move above would test 1.0415/1.0460 resistance before failing. A break below 1.0220 however would test the strong 1.0150/1.0100 support.
USDCAD
The pair’s multi-week corrective uptrend could test the 1.0360/1.0450 resistance. An Immediate term high may be in place at 1.0260. A reversal below 1.0200 could retest 1.0160 in a wave (iv) before renewing. A move above 1.0260 would extend the wave (iii) toward 1.0300/1.0340.
USDSGD
The pair is appeared to be still in a wave [b] consolidation. Range consolidation would continue if 1.2340 holds. A break below 1.2340 however could test the 1.2310 support. A break above 1.2430/1.2455 could target the 1.2485/1.2560 resistance.
