Update For: August 21
Posted On: Fri, 22 Aug 2008 04:05:01 GMT
AUDUSD
Last Price: .8801
Support: .8710, .8650, .8590, .7950
Resistance: .8850, .8950, .9075, .9370

[Approaching a bottom]
As stated previously the decline from .9850 may be just the first leg of a larger movement, but the decline does appear stretched and a rally attempt should not come as a surprise. Based on the current low extreme even a correction could result in a return to the low .90s.

"If a the diagonal scenario is correct AUD$ should return to the .8500 area, for starters."