The Aussie and Canadian Dollar mirror the CRB Commodities Index, testing resistance at their long-term highs. The Aussie encountered resistance at $1.08. Breakout would confirm a primary up-trend — already signaled by 63-day Twiggs Momentum above zero.
* Target calculation: 1.08 + ( 1.08 – 0.96 ) = 1.20
Canada’s Loonie is similarly testing resistance at $1.01. Breakout would offer a target of $1.06*.
* Target calculation: 1.01 + ( 1.01 – 0.96 ) = 1.06
The South African Rand is fairing slightly better, with the Aussie testing medium-term support at R8.00. Failure would warn of a correction to the long-term rising trendline at R7.50.
* Target calculation: 8.00 – ( 8.50 – 8.00 ) = 7.50