AUD Weekly and Daily rangeCurrently the MAY 50% level is resisting price, and there is a breakout of the Weekly lows therefore there is an expectation that price is heading down into the Weekly & May lows.
However, there price needs to drop back below the Weekly 50% level on Tuesday, and then use the Weekly 50% level the next day as resistance.
Today:- There is still the possibility that Tuesday continues higher, as it goes looking to retest the previous Weekly low breakout @ .9128
Euro Weekly and Daily range.
Monday has retested the previous Weekly lows @1.3078 breakout and was sold off.
There is a breakout of the Weekly lows, therefore there is now the expectation that the Euro is going to continue down towards the Weekly lows.
Tuesday's resistance Yellow level and the Weekly 50% level
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
