Australian Dollar Technical Outlook

Published July 14th, 2008 - 06:43 GMT
Al Bawaba
Al Bawaba

We wrote on Thursday that a wave 2 correction is probably complete at .9475 and that a bullish bias was warranted against there.



The expected advance is underway and objectives are not until .9815 and just above 1.00.  Look for support near .9640 and .9595 (former support levels).  Drops to these areas would present opportunities to add to positions. 

STRATEGY: Bullish, against .9475, target TBD