Ideal pattern is a move back into the 5-day 50% level and 3-day highs on Monday and continue down.....
That could occur in US trading hours or from a higher open on Tuesday.....
Yesterday's report
AUD Daily and 3-day pattern.
AUD rotated higher on Monday, but failed to reach the 5-day 50% level.
Looking at the 3-day pattern there looks to be a breakout occuring out of the range.
Using the Weekly Report I favour a down move into July's lows...
Therefore it's simply trading on the side of the 3-day filter (yellow)
Tuesday's highs and 5-day 50% level is resistance, but it's not aligned with the 3-day filter for a robust probability pattern downward.
Don't short trade above Tuesday's highs.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
