Australian Dollar Impulse Underway

Commentary: The Aussie blew through went through our stop and the rally from .9156 may be a third wave within the 5 wave bull cycle from .9106. The rally from .9156 has hit the 161.8% extension of .9106-.9248/.9156 at .9386.

Expect a small 4th wave correction to be followed by a new high (above .9397). Near term support is at .9354.

Strategy: flat