 | | Fresh 2009 highs beyond 0.8265 with the market ending the latest multi-week consolidation and now attempting to push towards critical psychological barriers by 0.8500. Any hopes from USD bulls for a top can only now be achieved with an immediate failure above 0.8300 and break back below 0.8125 which now offers itself as formidable support. The market is set to close above the 100-Week SMA for the first time since August 2008. | | Elliott Wave Outlook: Bigger picture, the AUDUSD is at risk of a significant decline as the structure of the rally from .6005 is corrective (3 waves). But, the larger decline will not begin until wave v of C is complete . .8385 (61.8% of the decline from .9856) is potential resistance. Expect a test of .85. | |
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