Chart Book | Chart of the day: Sing when you're winning

Reserve Bank of Australia chief Glenn Stevens might just be about to burst into song. After struggling to convince the markets with his repeated complaints that the Australian dollar is too strong, all of a sudden he seems to have gotten traders on his side. The aussie is at its weakest since July 2010, trading below 86 US cents, reversing just over half the rally it went on in the wake of the financial crisis in 2008. Good volume in the futures contract since September suggests there are plenty of recent converts to Stevens' point of view. Thin markets towards the year-end could see the Australian fall to trend line support at 81 US cents, with a possible overshoot to 79.5.