Australian Dollar Supported at .8600

Commentary: We wrote testerday that "the correction unfolding from .8702 is either complete at .8605) or the decline from .8702 is just the first leg in a more complex correction.

In the latter case, price should drop below .8605 (marginally) before the next bullish leg gets underway. We favor this scenario because the rally from .8605 is not an impulse." The Aussie has dropped close to .8605 but has yet to drop beneath. We still expect a drop below .8605 to complete the correction from .8702. Strategy: Flat