Weekly and Daily range
AUD has completed the 2-day reversal back down into the 5-day lows, finding support.
This could lead into the AUD moving higher on Wednesday, but i'm not sure how much higher price will move during the first 12 hours, as the channel lows and the Weekly 50% level could stall price from rising.
If there are more gains on Wednesday, it might happen during the 2nd 12 hours.
Euro Weekly and Daily rangeBased on the first 12 hours on Tuesday, my view was that price would continue down into Tuesday's lows beofre finding random support.
With the daily close above the Weekly and monthly 50% levels, I would now think price will continue to move higher this week.
Ideally price would revisit Support and the channel lows @ 1.3631/33 before the trend has the potential to move towards the Weekly high @ 1.3766
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
