AUDUSD Jun 04 to Jun 08 OutlookBy on 2012 Jun 2 Sat 7:05:41
Gap up early in the week failed to push above Y+1. Formed a double top and sold off from there. Flushed to Y-2 as expected. Bounced quickly back to Y-1. Closed the week at Y-1.
Got the flush to Y-2 and the snap back up to Y-1. But it happened late in the week making it not possible to develop the bounce further.
Early next week as long as Y-1 acts as support, a run to B+1 is likely.
Potential long term bottom in the making. Need coming week to confirm.