Thanks for the chart. You do like those black charts,lol.....Well you know Spike the very 1st thing I learned about technical analysis in the 70's was "Buy Support/Sell Resistance." It worked so well right away techncial analysis sold me as the answer in trading. And of all the stuff I've read and studied and learned since then I still haven't found anything better than that. There are solid "fundamental' reasons why previous highs and lows exist on a chart so when revisited have high odds of being respected when touched. You have to ask "what has changed" and odds are not much most of the time. Chart patterns etc will also improve the odds of a trade being successful but price support and resistance will always dominate. And with so many today using charts to trade the pure technical traders will also enforce these price points. So with the Aussie Dollar bumping up against 1.044 with price resistance above being the 20 month downtrendline as well as the major price resistance top of 1.06 any long from this point is not worth the odds with that much resistance so close by. And the chart pattern being sideways for 8 months and within a 20 month downtrend odds do not favour the upside unless you are day trading with intraday charts for a typical dead cat bounce that lasts a day or two. And that can be done on any chart up or down. I personally wouldn't short it here even at resistance as it is in a non trending sideways 8 month channel with improved techncials. But it could be shorted with a stop above 1.044 resistance for a short term trade.