Staying with long-term, monthly charts we can see the Aussie Dollar consolidating in a narrow range below resistance at $1.06. Oscillation of 63-day Twiggs Momentum close to zero also indicates a ranging market. Upward breakout is more likely and would signal an advance to $1.10*, while reversal below $1.02 would re-test primary support at $0.96.
* Target calculation: 1.06 + ( 1.06 – 1.02 ) = 1.10
On the daily chart, the Aussie is testing support at $1.05. Failure would signal another correction to test $1.02, while respect would suggest breakout above $1.06 — and a long-term advance to $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.
If it proves that the US has slipped back into recession, what will that do to the pair?
Further QE would weaken the greenback, strengthening the AUD.
why does what prove that the US has slipped back into recession? explain?
Who mentioned US recession?