Loading ...Maybe buy what you need this year to hold you for awhile or heck trade for dollars then buy PMs on a discount if you get your timing right. Remember the Euro had its day too then look what happened.
The A$ also shows a decline against the greenback, although not as pronounced as that of the Euro. The key turning points here will be 2016 and 2018, where we should see aggressive volatility.
The key resistance will stand at the 14260 level. Resistance forms initially at the 13525 level and support will be found at the 11215 level. Nevertheless, the peak in the A$ came with the peak in gold during 2011 which was a classic 10 year bear market in the dollar from the 2001 high.
Consequently, it does not appear that we will achieve any major sell signal or buy signal for year-end in this currency.
A closing today for the C$ above the 10660 level will keep this currency weak against the US$. Resistance stands at the 11860 followed by 12102 with support at 11570 level. The Yearly Bullish Reversal stands up at 12426. Everything appears to be on track for a serious US dollar rally no matter what currency we look at. The two key target in the C$ will be 2016 and 2019. Armstrong