Recap Y-1 retest as expected. Y-1 support gave us a run for Y-0. Y-0 tagged and Aussie went sideway since. Closed the week below Y-0 and above midpoint.
Outlook Double bottom setup on 4 hours points to a slow drift up to above B+1 / 0.71 crime scene as long as B-0 acting as support. Breakingn below B-0 points to a retest of Y-1 / B-1 but it is not necessary to go much lower because Aussie is sitting on top of longer term support zone here.
Lawrence's Comment
Recap
Quick rally to clear the resistance above confirming strength. Y-0 support gave us an updrift to 120 round number. Since then ninja breakout above and reached normal bullish target ...
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AUDUSD Oct 05 to Oct 09 Outlook
Lawrence’s Comment
Y-1 retest as expected. Y-1 support gave us a run for Y-0. Y-0 tagged and Aussie went sideway since. Closed the week below Y-0 and above midpoint.
Outlook
Double bottom setup on 4 hours points to a slow drift up to above B+1 / 0.71 crime scene as long as B-0 acting as support. Breakingn below B-0 points to a retest of Y-1 / B-1 but it is not necessary to go much lower because Aussie is sitting on top of longer term support zone here.
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