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Australian Dollar Breaks Below .8200 Australian Dollar Breaks Below .8200
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Old 05-25-2007, 09:20 AM
DailyFx's Avatar
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FX-Men Honorary Member
  

Join Date: Jan 2007
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Default Australian Dollar Breaks Below .8200
Commentary: We maintain that a C wave decline is underway towards the 100% extension of .8390-.8168/.8349 at .8127. Bears are in control as long as .8265 remains intact. .8127 would be where wave C would equal wave A.


A break under .8168 would support our view. The AUDUSD is testing support right now at the 55 day SMA (.8190). Strategy: Bearish against .8265 targeting .8127
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