Aussie has declined sharply from the proposed wave-4 high at .8911 but now it appears that the decline is completing. The breakdown below .8660 is clearly bearish but it is at odds with the Elliott count and waning downside momentum. We will be on the lookout for a near-term rally back through .8650 to suggest that a large upward correction is taking place. (daily) S/t, wave-(i) is nearly equal to wave-(v) and price is approaching the Elliott channel target for wave-(v). The recent breakdown at .8650/60 is now major upside resistance; support does not surface until .8470. (hourly) Conviction: Med Levels: Support – .8600, .8470 Resistance – ..8650/60, .8712, .8762
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