AUDUSD Jul 13 to Jul 17 Outlook

By News Robot

Lawrence’s Comment

Recap
Momentum carried Aussie lower to Y-2 as expected. No spike low, just drift back up from Y-2 to week mid. Closed the week below Y-1 and near midpoint.

Outlook
Consolidation after tagging Y-2 is bearish. A test of B-1 is in play. If B-1 can hold this up, a bounce back up to B+2 is possible.

B-1 failing to act as support will give way to B-2 and below.

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