AUD hit 98 cents, and now the expectation is that the AUD over a number of weeks will try and unwind back down into 92 cents.
I would like to be short-trading the 3-day high....
AUD Daily and 3-day pattern
All my Weekly reports last weekend suggested that Monday would rise back into the 3-day highs, and once around those 3-day highs there was a probability pattern unfolding of a large trading day downward, which aligned with Tuesday's highs.
This played out precisely.
Wednesday:- 5-day 50% level resistance and look for a continuation down into Wednesday lows (random support)
Note:- the 5-day 50% level is the trend guide for a continuation down, but it also won't surprise me to see a 'pop' upwards into Tuesday's 50% level and then reversing down.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
