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.
