Trading Edges That Last
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As Featured In
AUDUSD Apr 22 to Apr 26 Outlook
Lawrence’s Comment
I got this pair wrong last week as I overestimated its strength. Right off the start of the week, Aussie immediately snapped back down to where it was supposed to move down to the week before last, as if it is lagging indicator on gold. As gold going sideway, so did Aussie. Closed the week below Y-1 and near week low.
Outlook
Pure gold play so far with Aussie with the added damage of gold producers are at borderline profitability with current level of gold price.
Y-2 should be tagged early this week. If it acts as support, Aussie can move back to Y-0 easily.
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