4th July 2012 Euro & AUD Daily report

Euro Weekly and Daily support.

Weekly 50% level help form support and an 'inside day'...

12 hour levels from 11am will define whether Wednesday continues higher, as part of the trend rising up from the Weekly 50% level towards the Weekly level @ 1.2967

AUD Weekly and Daily cycles

AUD looks to be moving up into the Weekly and Daily highs (Random resistance)

At this stage it's too early to tell whether the trend will hit those highs and reverse down, simply because the AUD is now above the Yearly 50% level and is moving upwards at the start of the 3rd Quarter.

Based on the current price action, this trend could last for 2-months:- (2 month wave pattern upwards)