Australian Dollar Technical Outlook

Published May 19th, 2009 - 06:08 GMT
Al Bawaba
Al Bawaba

As of this morning, my bias has changed from bull to flat and a I anticipate going short soon. The AUDUSD made a new high as expected. Wave v of C (and therefore wave C) as well as the entire rally from the October low is close to complete (if not already complete). The risk of a top and reversal is high.