Chinese EspaƱol Fri, 16 May 2008
head-search-back
News Calendar Charts Currency Rooms Forum DailyFX Plus Sign In

advertisement

Australian Dollar Technical Outlook

Thursday, 24 April 2008 12:29:06 GMT

Written by Jamie Saettele, Currency Analyst

The rally from .7673 is the final leg of the diagonal.  Each leg of a diagonal unfolds in 3 waves (A-B-C).  Wave C of this final leg is from .8512. 

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 (near current price) and .9389.  If we get 5 waves down from .9541, then we’ll get bearish against that level. 

< Prev    Next > [ Back ]