Australian Dollar Technical Outlook

Published March 11th, 2008 - 05:16 GMT
Al Bawaba
Al Bawaba

We still maintain that the drop from .9496 is wave 4 within the 5 wave bull cycle from .8512.  A drop below .9147 may be required in order to complete wave 4. 



It is also possible that the decline is complete as a double zigzag.  Those that are willing can get long against .8874 in order to prepare for the run to 1.00 (or close to it).