Australian US Dollar Report 30th MAY 2020

AUD Primary & Weekly Cycles

AUD is still below the 2020 lows and in a tight trading range. This is still extremely bearish if we are looking at the Primary cycles.

Can it go up towards the 2020 50% level @.70 cents?

It might take another 4 to weeks of trading before it decides to go higher.

I would actually like the AUD to move back down to the Weekly lows and then attempt to move higher from July.

A lot of resistance around next week's highs at .6743

FOREX AUD/USD 3rd May 2020 Monthly Report

AUD/USD Primary & Weekly Cycles

Primary Cycles are extremely bearish. 

There is a breakout of the 1st Quarter lows that could extended down into the 2nd or 3rd Quarter lows

around 53-54 cents.

However, the Aussie dollar is above the monthly 50% level and also the Weekly lows are catching up with price.

If it's going lower, it needs to close below .6265 and there could be more sellers appearing in the AUD.

However, it could also be the next point of the AUD going higher and up towards .6935

.6265 is a major level that's going to decide the trend for the next 2 months.