S&P Futures are trading sharply lower at the start of the US session and based on the wave structure, we think that prices will reach even lower levels in coming session. Wave (c) is eyeing levels around 1210-1215, which suggests more strength for the US dollar, based on the overlay chart!

Aud/Usd Aussie reversed impulsively from 1.0220 region where we believe that wave B) reached the top. As such, current weakness is part of a red wave C), which is headed below parity, and ideally into 0.9930 region. Any near-term pull-back higher will be only temporary, black wave 2 before further weakness occurs.

Invalidation level now at 1.0220!

Usd/Chf

Usd/Chf already took out the 0.9300 resistance area, so wave (x) is of-course considered as completed triangle pattern, followed by a trend progression in wave (y), which shoudl also be structured by three legs. More gains to come, potentially even to 0.9440 while 0.9220 and trend line support hold.