USD index:-
US dollar crashes through the Weekly highs, and this trend is likely to continue into higher highs by Friday putting pressure on Currencies to drop down into support levels.
Unless there is a weekly close back below the November 50% level later this month, the trend bias is to continue to trend towards 81.92
Euro Monthly and 5-day
Trading below the single monthly lows and 3-month 50% level is bearish. (break)
There is the 4th Quarter 50% level @ 1.3415 that may support the trend, but unless there is a weekly close back above 1.3633 the trend bias this month is down
Currently there is a 5-day low breakout, therefore there’s an expectation of further weakness towards the Daily lows @ 1.3400
Resistance @ 1.3529
AUD Weekly
AUD continues the rotation down from the November highs into the
lower weekly levels.
We have a similar pattern in October, but the market dynamics
has changed and I don't think November is going to find support at
this Weekly level @ .9763 and continue higher for the rest of the month.
What I want to see is how the Weekly timeframe (Friday) closes in
relation to .9641, as this is my support level for November.
AUD Monthly and 5-day patternThe critical level on the AUD are the support levels @ 9704 & 9641 in the monthly chart.
In the 5-day range it looks to be moving down into Wednesday’s lows
Resistance .9774- 9793
