We can see some weakness on AUDUSD from above 0.7600, but for now we still don’t have enough of evidences that corrective bounce is completed. Another and final push up to around 0.7620-0.7630 resistance area should not be a surprise from where we will expect a sell-off in the next 24 hours.
AUDUSD Hourly Chart
10 year US notes fell in five waves from July highs so we can expect more weakness ahead which may drive stock market even higher. However, before continuation to the downside may continue on US treasuries we need a contra-trend reaction in three waves. Well, based on recent turn up we see price in wave a-circled of a three wave advance that may stop at former wave four, near 132’30.
10 Year US Notes