Australian Dollar Technical Outlook

Published May 2nd, 2008 - 02:39 GMT
Al Bawaba
Al Bawaba

The AUDUSD has come under .9290 so it is possible that an A-B-C decline from .9541 is complete. 



However, C waves usually extend to the point where equality is reached with wave A; which in this case is at .9219.  Also, it remains possible (as long as price is below .9470) that a much larger decline is in its early stages.  As such, remain bearish against .9470.