Australian Dollar Technical Outlook

Published April 15th, 2008 - 04:53 GMT
Al Bawaba
Al Bawaba

The bearish bias against .9344 has worked out so far.  “We are treating the decline from .9470 (which may have been a truncation) as a series of 1st and 2nd waves.  



This bearish count remains valid as long as price is below .9353.  It is also possible that the .9496-.8952 decline and .8952-.9344 rally are waves A and B in a larger correction.”  Risk on shorts can be moved to .9307