Recap As mentioned last week, downtrend has established. Resistance zone worked out as expected, sending Aussie down to Y-5.
Outlook Downtrend intact.
The range expansion from last week created an oversold condition that is likely to attract Aussie to bounce back to B-0 area. That will come in play if a flush early this week resulted in a quick bounce proving B-1 is an important support zone.
Otherwise, consolidation to lower prices with Y-3 to B-0 as the resistance area.
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
Lawrence's Comment
Recap
Y-0 failed to provide support and turned the spring setup into a consolidation. Closed the week at week low and below Y-0.
Outlook
Inside week with Y-0 and B-0 near same ...
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 Sep 26 to Sep 30 Outlook
Lawrence’s Comment
As mentioned last week, downtrend has established. Resistance zone worked out as expected, sending Aussie down to Y-5.
Outlook
Downtrend intact.
The range expansion from last week created an oversold condition that is likely to attract Aussie to bounce back to B-0 area. That will come in play if a flush early this week resulted in a quick bounce proving B-1 is an important support zone.
Otherwise, consolidation to lower prices with Y-3 to B-0 as the resistance area.
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