AUD/USD Forex Report 20th May 2016

                                                        AUD/USD Primary & Weekly Cycles

Treat the Trend as a break and extend pattern towards this week's lows @ .7187. (random support) Previous Report

 As noted in the previous report, the trend had changed because of the failure of the Yearly 50% level to hold and the breakout of the Weekly lows.

Once the Weekly lows had broken, we follow the 'Dilernia Principle of Break and Extend" in this case down into .7187, which has now completed.

The overall trend is to continue down into .7038, however don't be surprised to see a rise and retest of the Weekly 50% level and the MAY 50% level beforehand.

In Conclusion:- Trend Down into .7038 with an each way bet on a short-term bounce from this level @ .7187

AUD / USD Froex Report 8th MAY 2016

AUD Primary & Weekly Cycles

Taking partial profits around .7828 - 7850 protects you just in case it zag-zags down towards the 3-week lows once again before the next leg up towards the upper target. (Previous Report)

  

  AUD hit the exit zone at .7828 and has now move back down, except the Weekly lows and 2016 50% level didn't hold.

A change in fundamentals helped with the break, as the Reserve Bank Cut interest rates last week.

Treat the Trend as a break and extend pattern towards this week's lows @ .7187. (random support)

Expectation of the AUD going higher has completely changed because of last week's price action on Friday's close.