Australian Dollar / US Dollar 05-12
I remain focused on the potential double top with the November 2009 high at 9400. The AUDUSD has plunged below its year + channel and 13 week SMA and the next level of interest on the downside is the February low at 8575. 9130 is resistance. If 8570 is broken, then the objective would be 7700, which is the July 2009 low as well as where the decline from 8571 would equal the 9411-8571 decline (double top measuring technique).
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.