Euro Weekly and Daily range
As per Weekly report the trend bias is down, as it's trading below higher timeframe 50% levels.
At this stage the Weekly and December 50% levels are seen as resistance levels.
Whilst Monday's 5-day 50% level is seen a resistance for the first 12 hours @ 1.3247-55
AUD Weekly and 5-day patternMy view is that the AUD is trying to rise up towards higher highs in 2011, but as shown in the weekly report, there are a number of higher timeframe levels that are resisting the trend.
Based on the current price action, I would treat AUD as range bound between the blue channels (right chart), using the 50% levels as the trend guide
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
