AUD Weekly and 5-day patternThere is an expectation the AUD is heading higher towards the August highs...
However, based on the 'fake' break of Tuesday's 5-day highs, there is a potential move back down towards the Monthly BP for August (Weekly 50% level)
Any weakness would need to see a 4 hour close below the 5-day 50% level and/or a R41 spiral top rejection pattern.
3-day filter trend guide.
Euro Weekly and 5-day pattern
Early rise during the Asian timezone, but a reversal back down during the US timezone.
At this stage it's hard to see more weakness in the Euro on Wednesday, as it is already trading near higher timeframe levels:- Weekly 50%.
However, the 5-day pattern and 50% level should be used as a short-term resistance zone:- 41 pips.
Random support Wednesday's 5-day lows.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
