1st June EUR, AUD Daily

Euro Weekly and Daily range

Euro's rise is based on the USD dropping...

Whilst above the Monthly 50% levels the trend is up...

how far it continues will now depend on whether Wednesday closes above or breaks the Weekly highs.

Random resistance the Weekly highs @ 1.4479



AUD Weekly and daily range

Tuesday didn't move up into the upper Weekly level, but continued down into the lower support levels.

There are two patterns that can play out for the rest of this week....

#1) Continue upwards

#2) follow the lower monthly 50% level in June, if the AUD is trading below the Weekly 50% level.

At this stage in the 5-day pattern, it looks like the market is following # 1

unless it's trading below the 5-day 50% level.

Note;- the channels in the 5-day range (white) favours focusing on 41 to 85 pips during each 12 hour pattern


















  • All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT




  • Exact levels shown for current day aren't confirmed until midnight GMT
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