Recap Aussie held previous week close and then bounced back up to resistance zone / channel top. Channel top confirmed as resistance with Y-1 in play. Y-0 resumed its role as resistance and pressed Aussie down to below Y-1. Closed the week below Y-1 and near week low.
Outlook More down side is expected with Y-1 resistance. If Aussie can spike low above Y-2, a bounce to B-0 will be in play.
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
ContentReviewS&P Correction StartedEuro No Strength to Go HigherGold Not as Bullish as Many ThinkBig Picture SummaryReviewEuro trapped in tight range inside the projected channel. It has not figured out what ...
AUDUSD Nov 09 to Nov 13 Outlook
Lawrence’s Comment
Aussie held previous week close and then bounced back up to resistance zone / channel top. Channel top confirmed as resistance with Y-1 in play. Y-0 resumed its role as resistance and pressed Aussie down to below Y-1. Closed the week below Y-1 and near week low.
Outlook
More down side is expected with Y-1 resistance. If Aussie can spike low above Y-2, a bounce to B-0 will be in play.
Share