Recap Aussie moved under Y-1 as expected and attempts to pop it higher was seen without touching Y-2. Yet there was no strength to push Assuie higher to clear the Y-0 resistance. Consolidation around week open in tight range. Closed the week below Y-1 and midpoint.
Outlook Consolidation after strong selling points to continuation to the downside. Until B+1 is cleared we do not have a case for bottom. Next target B-2 to the downside is likely.
Lawrence's Comment
Recap
Reacted at breakout upper boundary, sent Aussie back to Y-0. Y-0 acted as support, moved back up to Y+1. Closed the week below Y+1 and above midpoint.
Outlook
As long as ...
AUDUSD Dec 15 to Dec 19 Outlook
Lawrence’s Comment
Aussie moved under Y-1 as expected and attempts to pop it higher was seen without touching Y-2. Yet there was no strength to push Assuie higher to clear the Y-0 resistance. Consolidation around week open in tight range. Closed the week below Y-1 and midpoint.
Outlook
Consolidation after strong selling points to continuation to the downside. Until B+1 is cleared we do not have a case for bottom. Next target B-2 to the downside is likely.
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