May 192010

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.

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

  1. 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?

    • 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.

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