Euro Weekly and Daily range
Euro continues to climb towards the Weekly highs:- random resistance @ 1.37480.
Random trend guide is the white channel highs @ 1.3694
With trailing support (12 hour channel lows)
If the Euro moves down early today, then those 12 hour lows are areas of interest for the market to move towards the Weekly highs.
Those 12 hour lows are less valid after the Weekly highs have been reached.
AUD Weekly and 5-day range.
Higher timeframes continue to resist the trend from rising, and based on the 12 hour levels on Thursday, it makes it hard to think that today will continue to push upwards, even though the first 10-11 hours of the day often remains supported.
It’s only after 10pm (Sydney time) that sellers try and push the AUD lower.
Random resistance @ 1.0007
The ideal pattern would be for the AUD to move back down and retest the 5-day 50% level, and also the trailing 12 hour support channels (blue)
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
