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