AUDUSD Oct 13 to Oct 17 Outlook

By News Robot

Lawrence’s Comment

Recap
Aussie found support at Y-1 and cleared Y-0 decisively. Y+1 was tagged and pulled back to Y-0 as support. Y+2 target was stopped short at the 0.89 round number. Selling resumed since. Closed the week below Y-0 and midpoint.

Outlook
The initial rally last week played out as expected but it was not as explosive as I hope for. The weaknesses going into end of week has turned Y-0 / B-0 into strong resistance zone for a retest of the Y-1 low.

Only until Y-0 / B-0 zone turning into support that a swing long will stand a better chance.

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