Australian Dollar Technical Outlook

Published August 7th, 2009 - 06:24 GMT
Al Bawaba
Al Bawaba


The AUDUSD has broken above its June high, confirming that wave C (as well as the entire rally from the October low) is in its final stages.  The AUDUSD may extend as high as the channel resistance line over the next several weeks.  Only a decline below .8120 would suggest that a top is in place.