FOREX AUD/USD 24th September 2008

AUD Daily and 3-day pattern

Tuesday's expectation was a pullback into the 5-day 50% level.

looking at the daily chart price looks supported and could continue higher, as it swings back into the September 50% level.

The most robust pattern would be the 5-day 50% level, which matches Wednesday's 3-day lows.

Wednesday's 3-day lows:- support

During Asian trading hours my view is for price to remain range bound below the 3-day filter, and any breakout on the upside would probably occur during US trading hours.

There is no probability pattern on Wednesday other than use the daily levels along with the spiral filters.

  • 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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