Aussie Sees Biggest Weekly Decline Since Sep 2011

The Aussie had a rough start to the year, declining more than 4.8% against the US Dollar. This was the largest weekly decline in % terms since September 2011, when the pair declined over 6%. We are currently descending towards a triangle bottom marked by the 2015 lows - a break lower would initially target the 68 handle, marked by the 1.236 ext at .6794. Expect any short term rallies to remain capped below .7030, though a break above there would target .7165.