Commentary: We are presenting the longer term count since it is possible that the AUDUSD is at a major turning point. From the June 2004 low at .6772, the pair may have completed an ending diagonal as wave 5 of the larger wave 5 bull cycle that began in March 2001.
Under this count, a top of significant proportion is in at .9399 and the Aussie is likely to work its way back to at least .6772 in the coming months.
Strategy: Bearish, against .8951, target TBD