AUDUSD Jun 17 to Jun 21 Outlook

Recap
Aussie bounced back to resistance as expected early in the week. But instead of crashing downward, it held Y-1 and then zoomed back up to Y-0. Closed the week below Y-0 and above midpoint.

Outlook
Gold dictated Aussie’s every move last week. Not the best environment to trade this pair unless you monitor gold closely.

4 Hour bear flag clearly in place so a retest of B-0 downto Y-1 likely. If Aussie holds there, a run to B+1 and breakout to B+2 will be in play.

The more likely outcome is bear flag breakdown with a retest of B-1.