my view is that the AUD should try and move back up towards the 2013 yearly lows, which aligns with the 2014 50% level:- around .9457. This will probably take 3-6 months for it to happen. If that's the case, then this level is seen as a major resistance zone in 2014. (AUD Report 3rd August 2013)
AUD Primary & Monthly cycles
We can see this exactly happen.... the completion of the break and extend pattern (#1 & #2), and now the rotation up into the Yearly lows and resistance, even though it happened in less than 2-months.
My view is that the AUD will drop down and follow the Primary cycle break & Extend pattern into the 2014 Yearly lows.
How quickly that happens will depend on when the FED decides to ease back on stimulus.
if it continues into the end of this year, then the 2014 Yearly 50% level is the resistance level for a move down.
If it happens later in this Quarter, then the 2014 Yearly lows will drop lower, and the AUD will continue down.
