[B]Commentary:[/B] We wrote yesterday that “risk of a reversal is high as evidenced also by the RSI divergence (on multiple time frames).” The AUDUSD has reversed and a drop under .8786 would indicate additional bearish potential as that would throw a potential ending diagonal formation out the window.
This may be the beginning of a large wave 4 decline that declines to at least .8707. [B]Strategy:[/B] Flat