The Aussi dollar was the front runner in the currency market bottoming already in October 2008 and was one of the really big gainers in the rally since March, but the leader was also the first one to top-out. Topping on November 16 showing us that a tidal shift was under way.
I would like to see a break below 89.44 and 88.82 confirming the top for the next big down move.
Wave ii was a bit tricky as we managed to break slightly above wave c at 93.23, but the best count is a double zig-zag where the second zig-zag peaked at 93.26 and wave iii is now in process. The first target will be 89.44 with 88.82 thereafter, but it should only be a question of time before important support at 88.82 is broken.
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