Recap Aussie rising wedge turned into a thin up channel leaning on Y-0 support. Normal upside target Y+2 tagged. Closed the week above Y-0 and below midpoint.
Outlook Potential break of up channel and rising wedge in progress. As long as Y+1 / B-0 zone acting as resistance a drop towards B-2 is likely.
Lawrence's Comment
Recap
Quick drop to Y-2 and found support. Bounced back to Y-0 and found resistance. Closed the week below Y-0 and above midpoint.
Outlook
Consolidation likely to absorb the wild swings in ...
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Lawrence's Comment
Recap
As mentioned last week, it would be a difficult ride down. Monday broken down only resulted in an all out squeeze back up in last hour. Then ...
AUDUSD Aug 15 to Aug 19 Outlook
Lawrence’s Comment
Aussie rising wedge turned into a thin up channel leaning on Y-0 support. Normal upside target Y+2 tagged. Closed the week above Y-0 and below midpoint.
Outlook
Potential break of up channel and rising wedge in progress. As long as Y+1 / B-0 zone acting as resistance a drop towards B-2 is likely.
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