AUDUSD….It’s All About A Break Or Hold Of the 50 Fib at 1.0387

Finally, the markets has woken up once again and the AUDUSD and NZDUSD have shown a bit of price action.  The AUDUSD has broken below the 1.04 level that had contained price action over the last week.  The cross didn't have very far to go before running into the 50 Fib from the lows at 1.0150 at 1.0386.  Trend line support also intersects at this point.  A hold or break at this level will be key to the pairs direction for the remainder of the week.  A break below targets 1.03 followed by 1.0235. 

Sup   1.0386 (50 Fib and TL)                  1.03                     1.0235

Res   1.0485

Keane Plan....Nice to see the death range broken.  It is all about the 50 fib at the moment.

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