Recap Consolidation within Y-0 and Y-1 as mentioned last week. There was this w. spring against B-1, however, and started the rally with enough power to break above Y-0 by the end of the week.
Outlook As long as B-0 acts as support, Y+1 will be retested sooner or later. The Y+1 to B+2 zone will be strong resistance because of STOPD levels from multiple timeframes are concentrated there.
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Lawrence's Comment
Recap
As expected, rallied most of the week once a low was established on Monday. 200% absolute range expansion completed and stalled from there. Closed the week above Y+1 ...
AUDUSD Feb 21 to Feb 25 Outlook
Lawrence’s Comment
Consolidation within Y-0 and Y-1 as mentioned last week. There was this w. spring against B-1, however, and started the rally with enough power to break above Y-0 by the end of the week.
Outlook
As long as B-0 acts as support, Y+1 will be retested sooner or later.
The Y+1 to B+2 zone will be strong resistance because of STOPD levels from multiple timeframes are concentrated there.
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