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AUDUSD Aug 12 to Aug 16 Outlook
Lawrence’s Comment
A nice reversal surprise that worked out well. Aussie held the support zone mentioned last time with a perfect 1-2-3 long. Tagged Y-0 and zoomed to pre-break down price target. Closed the week at week high and above Y-0.
Outlook
Double wide range weeks points to consolidation around B+1 with 50% week range. Bias towards tagging Y+1.
Gold is in a very tricky area and that is reflected in the price of Aussie. Until gold gives us a clear direction, Aussie will wild swing with every twists and turns gold is going to make.
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