AUD continues to tank.....USD 0.7138 @ 2:30 am , Jan 6, page-27

Hi @RM
Yes, many moons have past, AUDUSD up 5.14% YTD.
I'm looking at the weekly (vs monthly), and see this narrow (and not co-incidental) pair of swing highs (red parallel lines), each of which generated a smackdown by the Market Makers. Some call it a double top, but I don't know if that adds a lot of value. They are swing highs that stick out, Resistance if you like, obvious areas of high liquidity.
78.49 (2015-06-15) and 78.35 (2016-04-18). These are zones of hi liquidity, with a lot of bear buy stops sitting there, I suggest.
If this level can be taken out decisively (aka "stop hunt"), I'd expect a major smackdown, the Market Makers having then become net short after selling to the bears who are closing their positions.

I realize this is counter-intuitive to approaching - and breaching - the next swing hi of 2015-05-11 (80.16).
Regardless, if you follow the lines left you can see they cross many critical areas of hi liquidity.
Let's see what happens as we approach the two almost identical swing highs I mentioned.

Note..this is based on my study of institutional order flow, and artful, indeed ritualistic "engineering" by the Market Makers (i.e. big banks) who dominate currency and commodity markets...so I use no technical indicators, only price (as they do), and certain patterns, in both cases a bullish green bar (to suck in the last bulls), followed by the red bar commencing the push downwards (i. a pair of candles, but not Japanese candle charting - they have no names. A certain trader calls it an "order block"). There is also the reverse formation a bullish order block (the above are bearish) - first red, then green, commencing a run up (2016-01-11). Context is also important. The two I mentioned earlier appear during the prevailing trend (which was down).
Comments welcome.
AUDUSD - WEEKLY: