Aussie Dollar Chart
I have been watching the Aussie dollar quite closely over the last few months, its staged an impressive rally from 0.715 up to 0.775, however that looks to be topping out. As you can see from the chart below which represents 2016 and 2017, the dollar has failed to breach 0.7750 on a closing basis for 19 weeks over the last 52. Could there be a possible target for 0.715 again?
Looking at a longer term chart from the 2012 highs, this same consolidation pattern happened in 2014-2015. If we can break below 70c this year, I am taking a guess that the Aussie dollar might be heading toward 60c in mid 2018.
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