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AUD is looking bearish against the USD as we see a nice triangle forming in wave 4. Well, maybe a pattern is already completed after the recent three waves up in wave (e) so the price could go south soon, but real confirmation would be a break of wave (d) low. So until then, we may see a retest of the 0.8820/30 area.

AUDUSD October 20 2014 Elliott Wave analysis technical chart for currency trading forex
AUDUSD 1h Elliott Wave Analysis

The USD is also showing a bullish path against the CAD after the recent three wave decline from 1.1384 with a recent bounce from waves c=a equality level. That’s a nice structure that is pointing for a higher USDCAD in the sessions ahead. The break above 1.1300 may put accelerations up to 1.1340.

usdcad October 20 2014 Elliott Wave analysis technical chart for currency trading forex
USDCAD 1h Elliott Wave Analysis