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