7th January 2012 Euro & AUD Weekly Reports

Euro Monthly and Weekly cycles

Moving down into the January lows (Weekly lows)...

First Quarter support, but it's too early to tell whether it will swing upwards...

As price could be moving down into the 2012 Yearly lows @ 1.2546

AUD Primary and Weekly cycles

AUD failed to continue with the breakout of the Weekly highs...

And price is now back down into Yearly 50% level @ 1.0222...

Not a good sign on the AUD based on Friday's close, but it continues to hold its head above water.

the Weekly 50% level is now the random support level