Replies to post #100897 on Simple's Green Room

[stargate]

AUD In the last few days a couple of developments have provided the Aussie with some fresh buoyancy.
After an extensive review lasting almost three years, the Bundesbank has relented and will add Australian dollar-denominated assets to its reserves. In addition, the Australian Financial Review has reported that the central bank of the Czech Republic also vowed to invest in Aussie assets because of concerns over the euro. This has been a common theme this year – numerous sovereign wealth funds and FX reserve managers have been increasing their allocation to the Australian dollar.

[pennies2007]

AU 4 Hour Chart

For days I kept sitting back and wondering...why doesn't AU make another run at the top trend line here? LOL! Sorry I said it but there it is folks.

Now let's see if it holds like it's supposed to. We have multiple contacts on the bottom and this will confirm multiple top contacts if it plays out right.