Elliott Wave Analysis of AUD/USD Australian Dollar

Posted on May 19, 2010 by Ramki

The Australian DOllar or AUD/USD has apparently peaked at 0.9382 as a failed fifth wave. Expect the current weakness to eventually take us down to 0.8225 before chance of a decent recovery. Between, sell any bounce.

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2 Responses to Elliott Wave Analysis of AUD/USD Australian Dollar

  1. Kumar says:
    May 19, 2010 at 9:26 am

    Nice analysis Ramki – today commodity and emerging market currencies were sold in size vs the dollar. It seems USD/INR has bottomed out under 45 and could be heading to new highs above 50 in the coming months/quarters? Doesnt the whole move down from 2008 looks corrective?

    • Ramki says:
      May 20, 2010 at 11:48 pm

      Thanks. The INR has resistance at the 50% and 61.8% retracement levels. If I remember right these should come at around 47 and 48. At the moment I dont think it will to 50.