Commentary: We wrote yesterday that “the pattern since the 8/27 high at .8333 is certainly corrective but so is the rally leg from .7673 to .8333. The evidence suggests that a large complex correction is unfolding and that there will be one more rally leg (above .8333).”
The Aussie has pushed through .8333 and tested the 61.8% of .8870-.7673 at .8413. Potential support is at .8324 but the stalling at the 61.8% warrants a cautious bearish stand against .8437 for a larger turn. Strategy: Flat