AUD/USD 25th MAY 2015 Forex Report

                                                            AUD/USD Primary cycles

As noted in the previous report, AUD rose on the back of the rate cut and hit the MAY highs and stalled

Support now resides around 78 cents:- Monthly 50% level and 2015 Lows.

Based on Commodity prices and their own Primary Cycles, there is still a bias to move lower in 2015, how this effects the AUD for the rest of the year will simply be defined by trading either side of .78cents

AUS/USD Forex Report 4th MAY 2015

AUD Primary Cycles

The Completion of the Break & Extend pattern from the 2014 lows into major support @ 7567

has provided a robust pattern for the AUD to continue to rise up into the 3-month highs. 

That 3-month high is now 80.90 in MAY, and if it's going to continue higher then the support level becomes .7802-.7819 (Yearly lows and 3-month 50% level)

Above .8090 (resistance) and trend bias is to move back towards the 2015 50% level over the next 6 months.

Short-term and we have tomorrow's interest rate announcement, and if they drop rates then it could put pressure on the AUD once again.

However, last week's spike and retracement might have that already factored in, as the Reserve bank leaked the news early.

Therefore don't be surprised to see the AUD move upwards after the news. (trade on the side of .7802)