Australian Dollar Technical Outlook

Published May 8th, 2009 - 06:51 GMT
Al Bawaba
Al Bawaba

The rally from .6953 is wave v of C and the objective at .7630 has already been reached (which is where wave v of C would equal wave i of C).  The next potential resistance level is from the 50% retracement of the decline from .9822 at .7693.  Divergence with RSI warns of a top within the next few weeks.