FOREX AUD/USD 11th June 2008

"The UP trend is dependant on Tuesday's 3-day lows..... therefore I would be looking for a continuation of the breakout from Monday and down into Tuesday's lows....

The Rest of the Trading week will then be defined by how price re-acts with Tuesday's lows...

Note: Break of the Weekly 50% level, along with a break of the 3-day lows and traders need to keep in mind a price ortation back towards June's 50% levels @ .9388"

Yesterday's Report

AUD/USD Daily charts

AUD continues the move towards Tuesday's lows, with an expected move towards the June 50% level @ .9388.

Any rotation upwards from Tuesday's lows, look for a 5-day 50% level as resistance and a continuation towards Wednesday's lows.