It’s been a while since we last looked in on the Aussie dollar, but I do so now in hopes that Americans tourists might one day find the fabulous pleasures of Sydney affordable once again. The long-term chart suggests that a fall to as low as 82 cents is possible (see inset). If so, that would represent a 25% decline from the $1.10 high achieved in July 2011. The target would be negated by a move above 0.9725, the point ‘C’ of the pattern, but until that occurs we should regard rallies such as the one begun in January with at least mild skepticism.