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Monday, August 24, 2009

AUD/USD - Wave c of Minor wave ii extended

(Click on the picture to enlarge)

Wave c of ii is clearly in its final stages. I'm looking for a break below 83.56 to confirm that wave c has ended. As long as 83.56 isn't broken to the downside I can't exclude one more rise closer to 84.77, but at no point in time is 84.77 allowed to be broken, if however 84.77 breaks it would call for a move closer to 85.19, before the rise from 62.45 complets. Keep stop at 84.85 (strategic).

Below 83.56 should accellerate the fall towards 77.00.

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