Recap As oppose to just consolidate like Loonie, Aussie continued its path towards the Y-2 target before bouncing back. Attempts to trade above Y-1 failed so far and closed the week below Y-1.
Outlook Bias towards a retest of Y-2 and B-1 as long as Y-1 upto B+1 acts as resistance.
Lawrence's Comment
Recap
Upside target tagged right at the start of the week. Turned into FBO and dropped back down to Y-0. Found support there and eventually rallied back up to clear ...
AUDUSD Aug 15 to Aug 19 Outlook
Lawrence’s Comment
As oppose to just consolidate like Loonie, Aussie continued its path towards the Y-2 target before bouncing back. Attempts to trade above Y-1 failed so far and closed the week below Y-1.
Outlook
Bias towards a retest of Y-2 and B-1 as long as Y-1 upto B+1 acts as resistance.
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