We can see that price continued nicely higher, towards the upper channel line. We think even more upside will follow in sessions to come and later reach levels near the former swing high of Wave A at the 1.3336 level. There a new turning point lower can follow.
The Aussie/U.S. dollar (AUD/USD) currency pair on the other hand, reversed nicely to the downside, away from the 0.7698 level, which now suggests blue wave five to be in progress. Final wave five can now reach levels near the Fibonacci ratio of 261.8 before a new bullish three-wave reversal comes in play.
AUD/USD, 1 hour