Australian Dollar Technical Outlook

Published May 23rd, 2008 - 06:35 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).



There is no reason to fade this trend as long as price is above the trendline shown on the chart above.