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.