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Australian Dollar Technical Outlook

Monday, 05 May 2008 14:12:25 GMT

Written by Jamie Saettele, Currency Analyst

The AUDUSD has come under .9290 so it is possible that an A-B-C decline from .9541 is complete. 

However, C waves usually extend to the point where equality is reached with wave A; which in this case is at .9219.  Also, it remains possible (as long as price is below .9470) that a much larger decline is in its early stages.  As such, remain bearish against .9470.

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