Australian Dollar Technical Outlook

Published August 22nd, 2008 - 09:37 GMT
Al Bawaba
Al Bawaba

The AUDUSD completed a 4th wave correction at .8813.  



The decline from there should come under .8591 in order to complete a 5th wave before forming a low that leads to a rally back into the .90s.  There are former daily lows near .85 that should provide support.