The huge triangle consolidation that has dominated the picture since July 2007 remains on track. We are currently in wave (D) which is expected to complete near 91.00 from where a final decline in wave (E) should be expected.
Wave (E) should at least decline to the 74.75 - 75.05 area but could move even lower to test support at 65.20. But for form our focus should remain higher towards 91.00 to complete wave C of (D).
Trading recommendation:
Buy AUD near 82.00 for the final rally towards 91.00 where profit should be taken and the position should be reversed for the final dip in wave (E).