Don't Ignore This Chart!

Aussie Dollar Breaks Triangle Resistance

The Australian Dollar Index ($XAD) broke above trend line resistance from a large triangle this week. Medium-term, the index is still trading in a range extending back to July 2012. A break above the July-September highs would argue for a challenge to the 2011 highs.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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