AUD/USD Forex Report 30th November 2015

AUD/USD Primary Cycles

My view is that the AUD will try and continue down in 2016, however I've been looking for the AUD to move up into resistance zones before the next move downward in 2016.

The ideal move would be for the AUD to remain above .7091 and rise upwards in December and early January and then look for set-ups for the next leg downward using the 2016 50% level as resistance.

AUD/USD Forex Report 1st November 2011

AUD/USD Primary cycles

Weekly breakout on Monday above the previous 5-day highs & .7154 , which forms support the following week, and the expectation that the AUD is retesting .7567 (major Resistance SELL ZONE) Previous Report

As we can see the AUD rose on the back of the 5-day high break earlier this month, without reaching the first resistance zone @7474, instead slipping back and retesting Support.

This support zone resides @ .7091, but the trend guide as to whether it moves up towards .7567 begins next week from 7155.

Note: Primary trend suggest the long term trend guide is to continue lower in 2016.

Below .7091 and keep an eye on .6894