Australian Dollar Technical Outlook

Published March 3rd, 2008 - 08:27 GMT
Al Bawaba
Al Bawaba

It is tempting to attempt a bearish play against .9496 since the decline from there is in 5 waves.  However, that decline could be wave C of an expanded flat from .9457 that completed wave 4 within the 5 wave advance from .8512. 



Under this count, price will exceed .9496, if only slightly, before forming THE top.