Aussie is not immune to the negative mood, touching a low of .9992 so far today. However, it's on a daily speed line and approaching additional good support at .9988/68, consisting of a monthly pivot support, the 100 daily SMA, and confluence. A sustained move below this would be bearish with the next strong support at .9804.
However, as you can see on the daily chart below, the pair has been consolidating within a triangle. The more likely move is upwards. One can make an argument for a double/triple top or head and shoulders but neither of these exists until the confirmation occurs at .9804 for the double top and H&S and .9538 for a triple top.
Resistance is at 1.0197 and 1.0257. The pair needs to close above parity today. If it doesn't it will break a 17-day streak of having done so.
Here's the daily chart:
© Dianne Fecteau, 2011. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.
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