Recap Did not stop at the Y-0 resistance. Instead, formed a double top to break back down before Y-0. That ensured Y-1 to be retested. At 100% absolute range expansion, the low is formed. Closed the week near Y-0.
Outlook 1.07 and 1.05 are both rejected. No clear direction for aussie until after either side is taken out.
Lawrence's Comment
Recap
Y-1 failed to hold up the pair. Y-0 was not even challenged from below. Closed the week, however, above Y-1.
Outlook
Opened the door to test Y-2 below. Breaking ...
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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 Jun 20 to Jun 24 Outlook
Lawrence’s Comment
Did not stop at the Y-0 resistance. Instead, formed a double top to break back down before Y-0. That ensured Y-1 to be retested. At 100% absolute range expansion, the low is formed. Closed the week near Y-0.
Outlook
1.07 and 1.05 are both rejected. No clear direction for aussie until after either side is taken out.
Consolidation between Y-0 and Y-1 likely.
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