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AUDUSD Mar 05 to Mar 09 Outlook
Lawrence’s Comment
Indecision carried over to this week – attempt to breakout of the range to the upside failed badly and dropped back to Y-0 before a bounce to Y+1. Failed to take out Y+1 again and closed the week at midpoint.
Outlook
Congestion as expected giving us 3rd week in a row to close at midpoint. That means we should switch to breakout mode on Aussie if you like riding a swing as oppose to daytrading this pair.
A clean break out of this 4 week range (i.e. 50% expansion in one way) will define the trend for the coming weeks.
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