Euro Weekly and Daily cycles
Support resides around the Weekly level and 12 hour channels @ 1.2533
AUD Weekly and Daily cycles
The AUD is at critical support, and will probably make up its mind after today's rate announcement.
if they don't cut rates, which is is what I think will happen, then the AUD can rise up from this level, helped by the 12 hour channels.
if they cut, then the AUD will be under pressure for the next 4 weeks into the 4th Quarter(October)
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
