Well all I know for sure is 'Resistance is Resistance" and with price being in the top half of an 8 month channel with multiple resistance levels dead ahead the only long I would consider is above 1.06 or back to the bottom of the channel. Meanwhile on the short term price is trying to hold above the 1.044 level it recently broke above. A close back below that price point would suggest a full retracement down. So price now is in a tight range between there and the 20 month downtrendline that can't be ignored. I just think betting on the long side here is a poor bet with better fish to fry. Why trade a sideways choppy market near the top of its 8 month channel instead of a market that is trending up or down. Plus the Aussie Dollar is a commodity currency and commodities haven't exactly been trending up for some time now. Just doesn't add up for me. But to each his own I suppose.