Australian Dollar Continues to Make Highs

[B]Commentary:[/B] We wrote yesterday “that an ending diagonal may be unfolding and that the potential for a turn is high”. The Aussie spiked to .8811 this morning and has backed off to below .8800 since.

Risk is for a retrun to .8707, which was the origin of the diagonal. The larger 4th wave that are looking for may be beginning. This outlook has a correction unfolding for the next seversal weeks. [B]Strategy:[/B] Flat