Australian dollar has strong short term outlook

Stronger commodity prices and a strong economy are likely to give short term confidence to the AUD. The currency is currency trading within an expanding envelope, which will eventually break down.
In this case we can look for resistance at the 90c mark in the short term, before rising to 92.44c level in the medium term. I would thereafter expect weakness in the AUD down to 84.58c.
The sustainability of the current strength in commodity prices is in question, though the currency will be buoyed by rising interest rates. I believe the currency will test the 84.58c level before it goes higher.
-------------------------------------------
Andrew Sheldon www.sheldonthinks.com