Australian Dollar To Enter Correction

Commentary: The rally from .8274 is likely nearing an end. The rally is in its 5th wave, so the trend is towards higher prices but not before a substantial correction.

Within the 5 wave rally from .8274, the 5th wave from .8486 is likely to trace out a wave 4 correction that ends near .8605 before a new high in wave 5 of 5. The path is shown on the chart above.

Strategy: Flat