Australian Dollar Technical Outlook

Published August 19th, 2008 - 05:34 GMT
Al Bawaba
Al Bawaba

The AUDUSD continues to consolidate near its recent low. 



The consolidation is probably a 4th wave triangle that will give way to a 5th wave terminal thrust.  Expect a new low, below .8591.  The psychological .85 level is potential support.