Recap Aussie capped by monthly level resistance while finding support at weekly level. Hence trapped within Y-1 and Y+1. Closed the week below Y-0 and midpoint.
Outlook Breakout mode with no strong bias towards either direction. Wait and see game here. First strong leg out of the range will give us the direction to follow.
Lawrence's Comment
Recap
Forced test of Y+1 and above worked out as expected. Y-0 support for Y+2 target also worked out. Closed the week above Y+1 and midpoint.
Outlook
As long as ...
AUDUSD Apr 11 to Apr 15 Outlook
Lawrence’s Comment
Aussie capped by monthly level resistance while finding support at weekly level. Hence trapped within Y-1 and Y+1. Closed the week below Y-0 and midpoint.
Outlook
Breakout mode with no strong bias towards either direction. Wait and see game here. First strong leg out of the range will give us the direction to follow.
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