USD IndexThere are no clues as this stage as to whether the USD index will continue higher...
or remain trading below the 2010 50% levels until the end of this month.
AUD Yearly and WeeklyBased on the Monthly levels in December my view is that AUD is heading higher.
however, when we look at the Primary and Secondary cycles, the current price action in trading around upper resistance levels, as shown in the left chart.
There is the potential move towards the 2011 highs the closer we come to the end of the month and start of January
Euro Monthly and Weekly
Currently trading below the 3-quarterly 50% level and also the December 50% levels.
unless next week closes above those levels...
The trend bias is down or more consolidation between the Weekly levels
GBP monthly and Weekly
GBP looks in a more robust position compared to the Euro, as it's trading above the 3-Quarterly 50% level (Yellow @ 1.5565)
At this stage next week's 50% level is a support zone for the trend to try and rise upwards
