AUD Weekly and 5-day range
Bullish scenario eventually played out on Monday.
if the AUD is going to go higher, then my ideal pattern would be a retest of Weekly 50% level, or even the February 50% level and then for the trend to continue up towards the Weekly highs.
Today price is above .9977, then the trend bias is towards Tuesday's highs.
Note:- Weekly timeframe remains within the month of January, therefore there is still the possibility that this week continues to consolidate below 1.0007 until the start of the next week.
Weekly and 5-day range
Trend bias is to continue towards the Weekly and single monthly highs (red)
Trend guide on Tuesday is :- 1.3682.
My view is that the Euro will continue upwards....
However, if price is below the brown filter, there is the possibility that price comes back and retests the February 50% level @ 1.36160
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
