Even though the expectation with JUNE levels shifting higher and price trading above the Weekly 50% levels, I would look for a push down into the Weekly 50% levels, and then look for a break of the Spiral filter to trade ‘longs’ and verify a breakout in the 3-day pattern...."
Previous Weekly Report
AUD Weekly and Daily charts
Last Week's Expectation that the AUD was moving UP towards .97cents, but first I wanted a move down to test the Weekly 50% level first before heading higher, and that is what happened.
As what occured in the Jan-March highs, I would be looking for any resistance around 97cents, but then weakness needs to be confirmed with a break of the 3-day lows....
The pattern is once again looking for a down move of 90-95 pips whilst price is trading below the Spiral tops....
Support:- Tuesday's 3-day lows....
