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Thursday, August 27, 2009

AUD/USD - Recounted

(Click on the picture to enlarge)

The break above 83.43 has forced a slight recount. Wave ii ended at 84,25 on August the 25 and not with the test of 84.29 on August the 24. That means that minor wave i (red) ended with the test of 82.37 and we are currently in minor wave ii up closer to the 83.50 - 83.60 area, before minor wave iii is expected to start.

The minimum target for minor wave iii is in the 81.58 - 81.68 area, but I would not be surprised to see a move down to near 80.44.

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