Australian Dollar Technical Outlook

Published May 19th, 2008 - 06:16 GMT
Al Bawaba
Al Bawaba

The rally from .8952 is wave C of a 5 of the diagonal that was discussed above.



This break to the upside could lead to a test of a target near 1 (.9936) before the larger reversal.  Near term support is at .9440/80.