AUD/USD Forex Monthly Report 1st December 2018

AUD/USD Primary & Weekly Cycles

Primary Cycles suggest more weakness in the AUD to new lows in 2019 to approx .6776

Downside target in the 4th Quarter is .6922 (random support)

However, in the Weekly cycles there's a breakout pattern to the upside, that could see more gains to the upside, as it goes looking for the 2019 50% level.

(Weekly high breakout and now above the November 50% level @ .7185)

Expectation that the AUD would counter-trend upwards will likely to continue towards the December highs @ .7430 and as high at .7529, as it aligns with the 2019 50% level.

However, there's an expectation that the AUD will try and move lower in the 1st Quarter of 2019

Most likely the 2018 lows at .7250 will continue to support the AUD for the next month until the Cycle changes at the end of the year and Support levels push lower

AUD/USD Forex Report 4th November 2018

AUD / USD Primary & Weekly Cycles

Primary Cycles suggest more weakness in the AUD to new lows in 2019 to approx .6776

Downside target in the 4th Quarter is .6922 (random support)

However, in the Weekly cycles there's a breakout pattern to the upside, that could see more gains to the upside, as it goes looking for the 2019 50% level.

(Weekly high breakout and now above the November 50% level @ .7185)

Two patterns that could occur....

1. Moves up to the weekly highs, drops back below the November 50% level @ .7185 and then continues lower to .6922 by December, as the Primary Cycle is driving the trend lower

2. continues higher to the 2019 50% level by the end of the year or approx .7500, following the Weekly cycle breakout