Recap 2 weekly down trend resistance breakout gave us a run to 2 week high and in turn stops are found and sent Aussie to Y+2. Strong reaction at Y+2 sent Aussie back down to Y+1.
Outlook Potential FBO in place if Aussie cannot hold above Y+1, with Y-1 target. As long as Y+1 holds, one more attempt to push higher likely.
Lawrence's Comment
Recap
Easiest play of the week. As expected, any pullback is a buy until Y+2 is tagged. And the last of week melt up tagged both Y+2 and Y+3 ...
Lawrence's Comment
Recap
No pullback to support making this more difficult to go higher. Consolidation above Y+1 all week. Closed the week above midpoint and Y+1.
Outlook
Y+1 acted as support all week points ...
AUDUSD May 18 to May 22 Outlook
Lawrence’s Comment
2 weekly down trend resistance breakout gave us a run to 2 week high and in turn stops are found and sent Aussie to Y+2. Strong reaction at Y+2 sent Aussie back down to Y+1.
Outlook
Potential FBO in place if Aussie cannot hold above Y+1, with Y-1 target. As long as Y+1 holds, one more attempt to push higher likely.
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