Recap Reacted at breakout upper boundary, sent Aussie back to Y-0. Y-0 acted as support, moved back up to Y+1. Closed the week below Y+1 and above midpoint.
Outlook As long as Y+1 acting as resistance, a move back down to Y-1 is likely since Y+1 and above at upper boundary was rejected decisively.
Rising wedge visible on 4 hour and daily in place. If FBO at B+1 happens, a selloff down to B-2 is very likely.
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
Pullback to Y-0 support and took off. Upside target Y+2 not tagged yet. Closed the week above Y+1 and near week high.
Outlook
Y+2 still in play. FBO against ...
Lawrence's Comment
Recap
Finally a flush lower was allowed. Y-2 downside target tagged. Then BOJ + Japanese government came out jawboning ninja into reversal. Closed the week above Y-0 and near week ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
AUDUSD Mar 24 to Mar 28 Outlook
Lawrence’s Comment
Reacted at breakout upper boundary, sent Aussie back to Y-0. Y-0 acted as support, moved back up to Y+1. Closed the week below Y+1 and above midpoint.
Outlook
As long as Y+1 acting as resistance, a move back down to Y-1 is likely since Y+1 and above at upper boundary was rejected decisively.
Rising wedge visible on 4 hour and daily in place. If FBO at B+1 happens, a selloff down to B-2 is very likely.
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