Recap Aussie rising wedge turned into a thin up channel leaning on Y-0 support. Normal upside target Y+2 tagged. Closed the week above Y-0 and below midpoint.
Outlook Potential break of up channel and rising wedge in progress. As long as Y+1 / B-0 zone acting as resistance a drop towards B-2 is likely.
Lawrence's Comment
Recap
Continuation drop turned into falling wedge and bottom out. Reversal forced a test of the crime scene of the breakdown. Closed the week below Y-1 and midpoint.
Outlook
B-1 ...
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Lawrence's Comment
Recap
Pullback stopped right at Y-0. Rallied above Y+1 yet failed to hold above Y+1. Normally we get a drop to Y-1 but again it was not a normal week. ...
AUDUSD Aug 15 to Aug 19 Outlook
Lawrence’s Comment
Aussie rising wedge turned into a thin up channel leaning on Y-0 support. Normal upside target Y+2 tagged. Closed the week above Y-0 and below midpoint.
Outlook
Potential break of up channel and rising wedge in progress. As long as Y+1 / B-0 zone acting as resistance a drop towards B-2 is likely.
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