Euro Weekly and 5-day patternMonday closed back inside the 3-week highs.
I would have expected at least a retest of the breakout of the Daily range and 5-day 50% level.
At this stage the 5-day 50% level is viewed as random support, but whether Tuesday moves higher than the Weekly highs is not known.
Resistance:- Yellow
AUD Weekly and 5-day range
I wouldn't have factored yesterday's price action because of the Friday high breakout.
Normal pattern of a 5-day pattern breakout would be for price to move back down and retest the breakout (5-day 50% level) the next day, and then continue higher the day after (today)
Tuesday's 3-day lows and Weekly 50% level:- support.
Yellow resistance.
Bearish on the break of the Weekly 50% level and 5-day lows
