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AUDUSD

We need a five wave rise on the Aussie from March 24 low, before we may look for an end of an uptrend. We are looking at red wave 5) that is a motive wave, so more gains are expected after the current set-back into subwave 4 which is trading near the interesting zone of support. We think that the  price can rally up to 0.7750 in the next 24 hours.

AUDUSD, 1H

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GOLD

Higher Gold prices would also support Australian dollar. On the hourly chart of precious metal we see a sharp three wave decline that has stopped yesterday at 61.8% Fibonacci level. So far it holds very well, but it would be nice to see 1236 break to confirm a new leg up to 1250 and even higher, while 1208 is in place.

GOLD, 1H

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