The Aussie Dollar is bumping up against the early Feb and late March high of 1.044 and backing off. This level is in the middle of a sideways 8 month channel and is within an overall 20 month downtrend. A breakout close that holds above this level would suggest a run to 1.055 to a double top of 1.06. The 3 moving averages are positive once again as well as some oscillators above their center lines. But price is king, and meanwhile resistance is resistance. And price is still in the middle of an 8 month sideways channel.