AUD/NZD Top: Can't break 1.30

The long term chart (weekly) indicates that there is a very strong resistance in the AUD/NZD at 1.30.

AUD/NZD, weekly:

During the last 2 years the AUD bounced back 4 times, reaching a max of 1.2960 in Jul 2008. Each time the price fall back significantly

Date                 Top                   Fall Back
Jul 2008            1.2960              1.0700, Oct 2008
Mar 2009           1.2940              1.2050, Apr 2009
May 2009          1.2940               1.2000, Oct 2009

Feb 2010          1.2925 (?)           ???

The current prices could offer a good short opportunity with a stop-loss placed a few pips above either the last swing high (1.2925) or above the Jul 08 high (1.2960). Based on the historic price action, this trade could offer an attractive risk-reward ratio.