14th October 2009 AUD Euro Daily

AUD Weekly and 5-day pattern

AUD remain range bound, and could remain range bound for the rest of this week.

Resistance Weekly highs.

Once again if the R85 close below the filters (unlike Monday) I would view that as part of a reversal towards the 3-day lows.

Euro Weekly and 5-day pattern

My ideal pattern of moving down into the R85 low and then heading higher didn't play out.

Price has completed the Weekly highs.

I won't have a view on the euro until next week, because at this stage the euro can remain range bound until Friday or it can continue to push up towards the October highs.

That latter move can happen when the Weekly highs sihft higher next week.








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