Trading Edges That Last
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AUDUSD Apr 15 to Apr 19 Outlook
Lawrence’s Comment
Y-0 did not hold this down so Y+1 became the target and tagged quickly. Breakout above Y+1 gave us Y+2 target and that was tagged quickly too. Closed the week at Y+1 and above midpoint.
Outlook
Event driven rally due to gold showing strength early in the week. Then the upside breakout distorted the chart enough Aussie no longer drop with gold when gold was crushed on Friday.
This gives Aussie a good reason to hold above B-0 if gold and silver find support early next week. Retest of B+1 likely as long as gold and silver can go sideway or drift up slightly.
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