Australian Dollar Correction Nearing and End?

Commentary: The AUDUSD is approaching a confluence of Fibonacci levels. The 61.8% of .9077-.8822 is at .8979 and the 100% extension of .8822-.8972/.8838 is at .8988. These are potential reversal levels.

From a short EW perspective, the rally from .8822 is clearly corrective and a bearish stance is warranted against .9077.

Strategy: Bearish, against .9077, target below .8822