Trading Edges That Last
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AUDUSD Mar 24 to Mar 28 Outlook
Lawrence’s Comment
Reacted at breakout upper boundary, sent Aussie back to Y-0. Y-0 acted as support, moved back up to Y+1. Closed the week below Y+1 and above midpoint.
Outlook
As long as Y+1 acting as resistance, a move back down to Y-1 is likely since Y+1 and above at upper boundary was rejected decisively.
Rising wedge visible on 4 hour and daily in place. If FBO at B+1 happens, a selloff down to B-2 is very likely.
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