After the first bearish reaction on the USD after US CPI yesterday, the currency turned down later during the US session. Probably it was due to higher United States 10-Year yields.
Stocks also came down, which is supportive of the buck. EUR/USD spiked to a new high but then finished the day lower, so it appears a temporary top is in place at 1.15, and that new three-wave set-back is now underway.
AUD/USD firstly hits new high yesterday and then stopped at 100% Fibonacci equality level. More important, a turndown is now sharp and impulsive, so ideally, it's part of a higher degree three-wave structure that can send the pair again close to 0.7.
