Recap FBO last week gave us the drop down to near Y-2 until 100% absolute range expansion was tagged. Closed the week below Y-1 and midpoint.
Outlook Y-2 / B-1 support will force a retest of the 0.77 breakdown crime scene. Until we have a clean break of Y-2, Aussie is simply moving back into the previous consolidation area for more sideway actions.
Lawrence's Comment
Recap
The expected run towards 1.15 resulted in a spike reversal at Y+2. Closed the week below Y+1 and near week low.
Outlook
Very strong resistance Y+1 / B-0 with ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
AUDUSD May 02 to May 06 Outlook
Lawrence’s Comment
FBO last week gave us the drop down to near Y-2 until 100% absolute range expansion was tagged. Closed the week below Y-1 and midpoint.
Outlook
Y-2 / B-1 support will force a retest of the 0.77 breakdown crime scene. Until we have a clean break of Y-2, Aussie is simply moving back into the previous consolidation area for more sideway actions.
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