Australian Dollar Technical Outlook

Published May 29th, 2008 - 06:51 GMT
Al Bawaba
Al Bawaba

The rally from .8952 is wave C of a large 5th wave diagonal that could extend to a measured objective just below 1.00 in coming weeks (.9936).



Look for support near .9509 (and the line shown on the chart).  A bullish bias is warranted against .9290.