Australian Dollar Ending Diagonal?

[B]Commentary[/B]: We wrote yesterday that "a measured objective for the end of the advance from .8162 is the 161.8% extension of .8162-.8476/.8332 at .8840. The Aussie appears headed to a new high (above .8762) as the rally from .8707-.8750 is a 5 wave affair.

A bullish bias is warranted against .8707." The AUDUSD hit .8784 this morning but the decline from there to .8743 is impulsive and warns of additional gains. An ending diagonal may be unfolding but the potential for a turn is high, so we are moving to flat (previously bullish). [B]Strategy[/B]: Move to flat