AUD Weekly and 3-day patternRate cut in the US and AUD will probably follow a similar pattern as the Euro and continue back towards its first Quarter 50% level in 2009.
AUD has a weekly breakout and if Price continues higher and closes above the December 50% level this Friday, I would look for a similar pattern as the Euro ( chart below)
Wednesday:- Ideally I would like to see the AUD back down into the Blue filter and then continue higher towards Wednesday's highs.
At this stage I would treat the AUD is a trending Weekly timeframe continuing higher into Friday.
The upper channels can resistance price in the short-term but the bias is to continue.
Euro Monthly and WeeklyEuro continuing higher towards December's highs....
Euro Weekly and 3-day patternWednesday random resistance....
Blue 3-day filter random support
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
