Australian Dollar Objective at .8127

Published May 22nd, 2007 - 03:45 GMT
Al Bawaba
Al Bawaba

We maintain that a C wave decline is underway towards the 100% extension of .8390-.8168/.8349 at .8127. 

Bears are in control as long as .8256 remains intact.  .8127 would be where wave C would equal wave A (55 day SMA at .8149).