Australian Dollar / US Dollar 05-24
Again, “8575 has now been broken, which confirms the double top at 9400. The objective is 7700, which is the July 2009 low as well as where the decline from 8571 would equal the 9411-8571 decline (double top measuring technique).” Near term, one more low may complete 5 waves down from just below 9100 (which would compose wave iii of the 5 wave decline from 9400). 8000 is potential support. In the event of additional strength, 8500 is resistance and an area that I would look to short.
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