Recap Exactly as expected – failed to clear Y-0 and flushed to Y-2. Closed the week below Y-1.
Outlook Still trapped inside the down channel. Second half of the week going sideway in the lower half of past week points to further weaknesses.
The problem is that how far can Aussie keep dropping like this.
I am looking forward for the sign that Aussie can w. spring soon. Flush below B-1 to near B-2 and immediately bounce back above B-1 is one such scenario. If we get one, Aussie can zoom back up to Y-0 / B+1 easily.
Lawrence's Comment
Recap
Did not comment on this pair last week somehow. The spike low last week is a rejection so the normal expectation is to get Y+2 and higher. ...
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Lawrence's Comment
Recap
As expected euro strength continues. The normal consolidation of 50% previous week range also happened, this time above Y+1. Closed the week at Y+1 and below midpoint.
Outlook
As ...
AUDUSD May 28 to Jun 01 Outlook
Lawrence’s Comment
Exactly as expected – failed to clear Y-0 and flushed to Y-2. Closed the week below Y-1.
Outlook
Still trapped inside the down channel. Second half of the week going sideway in the lower half of past week points to further weaknesses.
The problem is that how far can Aussie keep dropping like this.
I am looking forward for the sign that Aussie can w. spring soon. Flush below B-1 to near B-2 and immediately bounce back above B-1 is one such scenario. If we get one, Aussie can zoom back up to Y-0 / B+1 easily.
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