Australian Dollar Double Zigzag

Commentary: A double zigzag from .8476 may be complete at .8332, which is the 100% extension of .8476-.8365/.8447. Still, lack of an impulse rally from the low has us on the defensive for now.

Once we see evidence of an impulse rally, we will get bullish against the swing low (which is .8332 now). A rally through .8447 warrants bullish action. .8319 and .8282 are potential support levels (50% and 61.8% of .8162-.8476). Strategy: Flat now, getting bullish above .8447, against swing low (.8359 now), target TBD