Recap As mentioned last week, downtrend has established. Resistance zone worked out as expected, sending Aussie down to Y-5.
Outlook Downtrend intact.
The range expansion from last week created an oversold condition that is likely to attract Aussie to bounce back to B-0 area. That will come in play if a flush early this week resulted in a quick bounce proving B-1 is an important support zone.
Otherwise, consolidation to lower prices with Y-3 to B-0 as the resistance area.
Lawrence's Comment
Recap
As mentioned last week, NQ has an important top in the making and we just got the first taste of the volatility to the down side. Early ...
AUDUSD Sep 26 to Sep 30 Outlook
Lawrence’s Comment
As mentioned last week, downtrend has established. Resistance zone worked out as expected, sending Aussie down to Y-5.
Outlook
Downtrend intact.
The range expansion from last week created an oversold condition that is likely to attract Aussie to bounce back to B-0 area. That will come in play if a flush early this week resulted in a quick bounce proving B-1 is an important support zone.
Otherwise, consolidation to lower prices with Y-3 to B-0 as the resistance area.
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