The A$ has been dropping of late as the US dollar is rallying on a global scale. This is impacting also commodity prices and the bottom line is simply that the US$ remains as the biggest short out there and a rally will be devastating on a global scale. It is also the only hope of saving Europe – the collapse of the way over-valued worthless Euro.
We have elected two Monthly Bullish Reversals so far with resistance at 12366 and 13804. Only a monthly closing above 13804 would signal a change in long-term trend.
