Aussie fell short of our call that a “target zone at .9471/9529 could complete 5-waves up from .8660”. The rally to above .9400 failed and could have marked a truncated 5th wave to complete the larger impulse. Waning momentum also warns that the 5-month uptrend may be in need of a meaningful correction. Key downside support is still the Fib confluence and pivot zone at .9220/10. (daily) S/t, the decline from .9438 is so far tracing an impulsive decline. A confirmed break of .9329 is needed to usher the wave-5 target of .9285. Near-term key range is .9374/.9329. (hourly) Conviction: Med/High Levels: Support – .9329, .9285, .9235 Resistance – ..9366, .9374, .9417
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