Recap Y-0 held up fine, rallied to Y+2 as expected. Struggle around Y+2 since. Closed the week below Y+2 and above midpoint.
Outlook Reversal came right on time, giving us a nice measured run back up to the resistance zone. Will take some time to absorb this first move to stage the next leg up.
As long as Y+1 area acting as support, Aussie can go higher.
Lawrence's Comment
Recap
Y-2 / 1.26 indeed stopped the drop and staged a bounce. Yet it failed to clear Y-1 resulting in another flush lower to near Y-3. Closed the week below ...
AUDUSD May 12 to May 16 Outlook
Lawrence’s Comment
Y-0 held up fine, rallied to Y+2 as expected. Struggle around Y+2 since. Closed the week below Y+2 and above midpoint.
Outlook
Reversal came right on time, giving us a nice measured run back up to the resistance zone. Will take some time to absorb this first move to stage the next leg up.
As long as Y+1 area acting as support, Aussie can go higher.
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