AUDUSD Aug 20 to Aug 24 Outlook

By News Robot

Lawrence’s Comment

Recap
B-0 did not act as support earlier in the week. After breaking below Y-1, no more long interest showing up. A flush to below Y-2 by end of the week. Closed the week below Y-2 and at week low.

Outlook
The pullback / consolidation on Aussie has finally started. The next support level below is B-2. Selling down to that slowly implies another up leg potential on higher timeframe.

Flushing through B-2 will invalidate the longer term bullish scenario.

Share

  • You must be logged in to comment. Log in