The weekly Aussie dollar chart above has now had 2 triangle breaks. One a few weeks ago around the 1.0500 level out of a large symmetrical triangle which started forming in July 2011, and another break upwards through an ascending or flat top triangle with the critical level being 1.0750. The measuring implications from even the smaller ascending triangle are huge with the potential for the Aussie to reach 1.21000 or about 13 cents higher. My only warning on this would that large triangles after markets have already moved a long way in the same direction can sometimes disappoint by not fulfilling all their measurement potential. However at this stage I'll go with the 1.21000 level.
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