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Monday, January 31, 2011

AUD/USD - Time for the next part of the decline?

All odds still favor the 102.53 high as the top of wave 5, however we should soon see some acceleration to the downside if this is the case. A break below 98.00 should propel us down to 95.30 and most likely a lot lower.

The risk is that the top at 102.53 only was a minor top and we need one more high before the entire rally since 60.73 finally find it's peak. A break above 102.53 could lift us up to the 105-106 area.

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