Recap Beautiful drop from the head and shoulder neckline to the target in 1 go. Eventually stopped at 100% range expansion and bounced. Closed the week near Y-2 and below midpoint.
Outlook Down trend established on daily. Until Aussie can reverse the trend Y-1 / B+1 strong resistance with more down side.
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Lawrence's Comment
Recap
Pullback as expected. No contest at all when pre-FOMC level was tagged. Sharp reversal again once the pocket near 16950 was tagged. Yet the squeeze failed to produce any ...
AUDUSD Mar 16 to Mar 20 Outlook
Lawrence’s Comment
Beautiful drop from the head and shoulder neckline to the target in 1 go. Eventually stopped at 100% range expansion and bounced. Closed the week near Y-2 and below midpoint.
Outlook
Down trend established on daily. Until Aussie can reverse the trend Y-1 / B+1 strong resistance with more down side.
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