AUD/USD Forex Report 1st October 2018

AUD Primary & Weekly Cycles

As noted in the previous reports, the major support level in the Primary cycle is .7140 in 2018

Even though there's an expectation that 2019 will push lower, as part of the 2nd wave in Bear trend, there's always a possibility there will be a Secondary counter-trend move against the Primary trend.

Resistance - October 50% level & Weekly highs

Down target .7013

Secondary counter-trend move .7533 (major resistance)

Forex Report AUD - USD 3rd September 2018 Monthly Report

AUD/USD Primary & Weekly Cycles

There are 3 major support levels - .7252 - .7213 - .7140

There is a resistance level around the Monthly 50% level and Weekly highs @ .7470/75, with the expectation that's it will continue to trend downward.

Within all primary trends, there's an expectation that we will see counter-trends appearing
Any rise upwards is still part of a PRIMARY trend that looks to be heading further down in 2019.

That counter-trend is up towards .7694 & 2018 50% level. (Previous Report)

Support buying appeared once it reached .7213, however it failed to continue higher (counter-trend)

A failure to continue upwards at the end of August leads to AUD moving lower, as part of the 2-wave Primary cycles

There's 1 last support level in 2018 - .7140.... 

that may hold for a number of weeks, but I now have less faith in any support holding simply because of the Primary Cycles in play

resistance .7340

Target . 6779