FOREX AUD/USD 18th September 2008

AUD Daily

Trading around Weekly lows and being supported around Wednesday's lows.

This set-ups a breakout of the 3-day filter and continuation higher towards Thursday's highs.

Note:- it's obvious that any breakout of the 3-day filter is going to occur during late GMT or US trading, and it should be verified with a re-test of the 5-day 50% level using a lower spiral point.

At this stage price is below and could continue down into Thursday's lows.

Therefore 3-day filter is still seen as resistance until it fails

  • All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT

  • Exact levels shown for current day aren't confirmed until midnight GMT


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