USD indexUSD index heading down towards the 2011 lows... with a random support pattern around the 1st Quarter lows @ 77.65.
At this stage I would treat the trend based on the breakout of the single monthly lows and also the January 50% level, which could see an extension lower in February.
Euro Monthly and Weekly
Breakout of the 3-week highs and also the January 50% level ,should see the euro continue back towards the 3-month highs.
First target the next week's highs.
Trailing support levels @ 1.3505.
We'll look for patterns in the 5-day range to help validate 12 hour cycles based on the current price action in the larger timeframe cycles
AUD Monthly and Weekly
AUD continues to consolidate between the monthly levels.
My expectation remains that price will move higher in 2011, but we need to see price trading above 1.0007.
once again we should look for 12 hour patterns to help validate support and the potential breakout pattern
Next Week's support @ 98.30
