Euro Weekly and Daily
Weakness during the first 12 hour pattern down into Thursday's lows. This was part of a break and extend pattern from Wednesday,
but I would have thought that the 11pm levels and breakout would have continue lower and move towards the Weekly 50% level.
Friday is an each way bet, as the failure to remain below the 5-day lows could see the euro move back towards the upper Weekly level @ 1.4420.
if it's below the 11am levels, then the brown filter could form random support and a choppy first 12 hour range
AUD Weekly and Daily
As mentioned in yesterday's report, my view was that the position of the brown filter could push the AUD back towards the 5-day 50% level.
Based on the current price action, my view is that the AUD will continue down into Friday's 50%, which aligns with the Weekly highs.
Those levels are seen as support for a potential continuation upwards next week, and towards the August highs
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
