AUDUSD Aug 19 to Aug 23 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidation with 50% week range as expected. Failed to consolidate around Y+1 and trapped between Y-0 and Y+1 instead. Closed the week below Y+1 and above midpoint.

Outlook
Gold struggling at its resistance zone, so Aussie do not have the necessary fuel to go higher.

Since gold is testing a critical resistance zone at the moment, Aussie may easily overshoot to both the upside and downside on any violent movement from gold. Will stay away from Aussie myself until gold give me a direction to lean on.

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