Australian Dollar Wave 3 Underway to at least .9600

[B]Commentary[/B]: Wave 3 within the 5 wave bull cycle from .8584 is underway. Ultimately, we expect this rally to lead to the completion of the entire rally from 2001. Objectives are in the .9600-1.0000 zone. We wrote Friday that “support should be strong near .8900.” The low Friday was at .8890 and the pair has vaulted higher. Again, resistance should be strong near .8890…the bullish bias is strong as long as price is above .8682.

[B]Strategy[/B]: Bullish, against .8682, target TBD

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