AUD Weekly and 5-day pattern (12:00pm)
As mentioned yesterday….
It was how Wednesday’s lows were going to play out to see if the AUD
was going to swing upwards & continue towards the Weekly highs later
this week.
There was a breakout on Tuesday (intraday) therefore there was
an expectation that Wednesday would make lower lows, with the lows
@ .9983 providing support.
Wednesday remaining within it’s 85 pip range
The most robust pattern for the trend moving higher was then
Thursday’s open above 1.0031 and a continuation back towards
the Thursday highs.
There was an initial spike during the past hour of 41 pips…however it
looks like fake move, which could see more weakness in the short-term,
as price is being pushed down from the 5-day 50% level @ 1.0068
It doesn’t surprise me if there is more weakness, as the AUD is coming
down from the November highs, which can often result in a lower
weekly close.
Thursday's Trend guide 1.0031-38 (3pm)using the next 4 hour period
This week’s support remains around .9961 (Friday’s close)as per Weekly Report
