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Tuesday, June 1, 2010

AUD/USD - Wave III down is under way

Wave II ended at 85.51 and wave III is now under way. The long term picture still call for an ultimate break below the 2008 low at 60.04.


We are currely seeing accelleration in wave iii of 3 of 1 of III down (sorry for the complex count)
I'm looking for a decline to at least 82.09 and possibly even 80.83 before we see a more decent correction, but for now stay with the USD.

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