Objectives for the end of the rally are at .9936 and 1.0238. As long as price is above .9270, another leg higher is likely. Strong support is at .9435 and .9389. If we get 5 waves down from .9541, then we’ll get bearish against that level.
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advertisementAustralian Dollar Technical OutlookWednesday, 23 April 2008 13:08:16 GMT Written by Jamie Saettele, Currency Analyst
Objectives for the end of the rally are at .9936 and 1.0238. As long as price is above .9270, another leg higher is likely. Strong support is at .9435 and .9389. If we get 5 waves down from .9541, then we’ll get bearish against that level.
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