AUD/USD 1st MAY 2017 Forex Monthly Report

AUD/USD PRIMARY & Weekly Cycles

AUD isn't looking robust coming into the start of MAY.

Where there was initial support around the Quarterly levels @ .74.91 for the first 2 weeks of April, it has failed to move higher and now has closed below that level at the end of the month.

The key level on the AUD is .7491

Short-term is looks like it's moving down into the MAY lows, which is a random support level, simply because if it breaks that level it's going to follow a 2-month wave pattern down into the June lows