AUD Weekly and 3-day pattern
Same pattern as yesterday but this time helped by price being pushed
down by the 3-day filter.
I still have the view of the AUD heading back toward February's 50% level before any up move.
However those who want to watch for any long positions on Tuesday,
price would need to bounce off the 5-day 50% level @ 6649 and then
break above the 3-day filter @ 6766
As it will probably push the AUD up towards the Weekly highs 69+
At this stage that's not a set-up to trade longs, it's just something to
keep an eye on if trading during the GMT-US timezone.
If price had already bounced off the monthly 50% level and this exact
same pattern was occuring then you would be looking to BUY the 5-day
50% level and add longs above the 3-day filter:- breakout.
Stick to shorting and manage positions:- partial exit +68
