Australian Dollar Technical Outlook

Published July 29th, 2009 - 07:01 GMT
Al Bawaba
Al Bawaba


The AUDUSD has broken above its June high, confirming that wave C (as well as the entire rally from the October low) is near completion. .8385 (61.8% of the decline from .9856) is a level to watch as potential resistance. The risk of a top and reversal is high (momentum divergence with the new high).