AUDUSD May 04 to May 08 Outlook

Recap
Quick run to B+2 as expected. No resistance there at all giving us a clean move to Y+3 and finish the move by Y+4. Spike reversal from Y+4 sent Aussie straight down to below Y+1. Closed the week above Y-0 and near week low.

Outlook
V-shape reversal points to instability. If Aussie fails to hold Y-0, a drop to B-2 will be in play.