My medium term analysis on the AUD/USD suggests some tough resistance above 1.06 that may take some time to grind through. So the strategy is to buy into weakness and sell on tests of 1.0600 – 1.0620, probably for the next 8 weeks.

On the downside, it re-enters the value area of the previous auction at 1.0470 and if seen, could result in a more substantial correction back to 1.04. At that level, I believe excellent risk reward exists for buying the dip, with a stop at the 1.0380 level. But I doubt we break 1.0470 so it is hypothetical.

Longer term I see the old highs being tested and broken, quite substantially – probably by the end of 2013.

Again love your work and thanks for posting it with such discipline.