Australian Dollar Technical Outlook

Published February 15th, 2008 - 07:34 GMT
Al Bawaba
Al Bawaba



We were concerned yesterday because the decline from .9084 to .8923 appears to be in 5 waves, which would be bearish.  This is no longer of concern to us as bulls since .9084 has been exceeded.  At this point, risk can be moved to .9004.  Remember, our objective is in the mid .90s. 

STRATEGY: Bullish, against .9004, target TBD