The Aussie Dollar is testing long-term resistance at $1.06 on the weekly chart. Breakout is likely and would signal an advance to $1.10*. Oscillation of 63-day Twiggs Momentum above zero suggests a primary up-trend.
* Target calculation: 1.06 + ( 1.06 – 1.02 ) = 1.10
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.