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 the next level of potential resistance is at the 61.8% of .8870-.7673 at .8413. Near term support is .8324. A corrective decline to this level would warrant a bullish stand against .8171. Strategy: Flat