Aussie is still set up to reach the midpoint and head & shoulders target near .8780. Three wave lower are in place and yesterday prices completed wave-(4) by retracing right to key resistance at .9167 which was the area of the previous 4th wave (an ideal target for corrections). S/t, key resistance is .9167 and near-term support is .9070; a break of the latter shifts focus to the range lows between .9000/.8990. Four different targets project a wave-(5) low between .8831-.8778. The target zone is where wave-(1)=(5), the h&s top projection, the midpoint projection and a Fibonacci extension. Levels: Support – .9070, .8990, .8831/.8778 Resistance – .9167, .9269
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Nomura