Recap Y-0 support and then breakout to the upside. 100% absolute range expansion stopped the rally. Closed the week above Y+1 and midpoint.
Outlook Y+1 / B-0 support for the breakout play to continue with upside target Y+3. Failing to hold above Y+1 and that turning into resistance points to Y-1 and below in play.
AUDUSD Feb 01 to Feb 05 Outlook
Lawrence’s Comment
Y-0 support and then breakout to the upside. 100% absolute range expansion stopped the rally. Closed the week above Y+1 and midpoint.
Outlook
Y+1 / B-0 support for the breakout play to continue with upside target Y+3. Failing to hold above Y+1 and that turning into resistance points to Y-1 and below in play.
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