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…
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