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Monthly chart:
As most major pairs, Aussie accelerated its decline in the first month of this year. After a bit of consolidation it convincingly broke 0.80 level and 50.0% retracement of 2001 - 2011 uptrend. In the following three months it traded mostly in 0.7550 - 0.7925 range, but broke higher (to 0.8075) in the end of April. The breakout appears to be fake as the pair returned back to the range.
Weekly chart:
Should the downtrend resume, some demand may come in at 0.75 (level touted by RBA g…
As most major pairs, Aussie accelerated its decline in the first month of this year. After a bit of consolidation it convincingly broke 0.80 level and 50.0% retracement of 2001 - 2011 uptrend. In the following three months it traded mostly in 0.7550 - 0.7925 range, but broke higher (to 0.8075) in the end of April. The breakout appears to be fake as the pair returned back to the range.
Weekly chart:
Should the downtrend resume, some demand may come in at 0.75 (level touted by RBA g…