AUD/USD Forex Report 30th March 2015 & Part 2 Update 3rd April 2015

AUD Primary Cycles

As noted in the previous report, the AUD hit Support 7555-7567 right on the button completing break and extend pattern in the Primary Cycles.

Until it's trading above the 2nd Quarter 50% level (.7849 confirmed after this week), it is too early to tell whether the AUD is going to rise upwards for the next 3-6 months :- 1st Target .8200

What's going to holdthe AUD back is that the Trend bias in GOLD is to continue lower (READ GOLD Report)

AUD/USD (4thApril)

AUD is back down into Major Support @.7567 as it rotates within the weekly cycles.

There are two critical patterns now occurring...

#1) shift in the 'Intermediate' Timeframe (Monthly) pushes Support lower in April towards .7426-61

#2) 'Secondary' Timeframe & the 2nd Quarterly 50% level drops down to .78-7811, this will valid a change of the current down trend once there's a Friday close above this level.

Therefore 5-day high break outs are now patterns to keep an eye on.

AUD/USD Forex Report 3rd March 2015 Monthly report

AUD/USD Primary & Weekly cycles

Support resides around .7555-7567

Price continues to consolidate around the 2015 lows, without reaching MAJOR Support around .7567

Unless there's a breakout above the Monthly & Quarterly 50% level @ .7937, there is a bias to move lower.

Keep an eye on next week's Weekly lows, as a thrust pattern upwards from those lows (Random support) and a breakout above the Weekly highs, can see a Quarterly recovery towards .8311

Commodity prices holding back the AUD (Read GOLD & Silver Reports)