AUDUSD Nov 05 to Nov 09 Outlook

By News Robot

Lawrence’s Comment

Recap
Tighest range in several weeks. Tagged my upside target with slow drift up as expected. The reaction to that was like lightening strike and dropped Aussie lower. Closed the week near week low, above Y-0 and below midpoint.

Outlook
Y+1, well 1.04 to be specific, was rejected. B-1 will likely be breached by early next week. If that happens, as long as B-0 acts as resistance, looking for B-3 / Y-1 as target.

Aussie is not reacting well to the fact that Gold failed to hold its ground. Watch gold closely for clues on Aussie this week.

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