The Elliott Wave analysis of AUD/USD published on 24th May in wavetimes suggested that any recovery to 0.8550 levels will find fresh sellers. The downside objective was below 0.7800. To our delight, the currency ran into a brick wall on 28 May exactly at 0.8551 and is already down by over 2%. If you managed to sell near the said levels, keep your stops now at 0.8560 and ride the position till we approach the target on the downside. Nothing works like elliot wave analysis when it works! And as you can see here in wavetimes, it works most of the time. WHen it does not work, your stops are so close that it really doesn’t hurt! Enjoy. Ramki