Euro Weekly and daily cycles
The Weekly 50% level isn't providing the next leg upwards, instead it's simply providing some form of support.
5-day 50% level and 12 hour channels (white) are seen as Support.
My view remains, after last week's support the trend bias is trying to move upwards, as long as it's above the March 50% level @ 1.3166
AUD Weekly and Daily cycles
Daily cycles suggest more weakness towards the Daily lows, using the 12 hour 50% level and white channel as the trend guides.
However, the Weekly lows remain a random support zone.
Note:- AUD is currently trading below the single monthly lows (red) and looks to be drifting towards the 2nd Quarterly 50% level in April.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
