AUDUSD Jan 05 to Jan 09 Outlook

Recap
Aussie took off from the falling wedge visible on 4 hour and daily. Tagged the wedge target and stalled. Y+1 failed to provide support so FBO kicked in with free fall back down to Y-1. Closed the week below Y-1 and at week low.

Outlook
Aussie is still mainly tied to the movement in gold. As my premium members already know, the gold rally was seasonal and that it ended at the last week of December. Hence, no cigar for gold bugs.

Aussie needs to clear B-0 without dropping to B-2 to produce a decent bottom for the short term. Otherwise, down trend intact.