This currency cross has been in an uptrend since October 2008 and now four years later to the date is breaking down. Not only are we breaking below the uptrend-line, but we also have a nice S/H/S top calling for a decline towards at least 0.91, if we close below 0.9956 on a weekly basis. That said from an Elliott wave perspective I would expect this cross to fall all the way back to the 0.7448 low over the next 5 years. Why 5 years? Because wave W took 5 years to develop and the X-wave took 10 years that leaves us 5 years to equality.
The Aussie has been feeding on the China boom, but it might just be over. I know housing prices i Australia has been falling, but this might be a very good time to sell you house and rent a flat, a house or whatever you would like, but owning could be very a expensive experience for the next five years.
If you are planning to rent a car, make sure that you choose a reliable company along with a reliable car prior to signing anything and driving away in it. Many rental car customers think that the vehicle an agency pulls aside for them is the one they must accept when renting. Any time you get to an agency and think that there is something wrong with the car you've been assigned, you do not have to accept it.
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