Recap Got our targets tagged within first half of the week then stalled from there (Y+2). Y+1 acted as support and closed the week above midpoint.
Outlook The reaction to Y+2 means the up leg has completed. A pullback is due. As long as Y+2 to B+1 acting as resistance, Aussie will consolidate and pullback to test B-1.
Lawrence's Comment
Recap
As expected Loonie continues to weaken. 1.26 did not stop the run at all. Until 1.28 was touched. Closed the week at Y+2 and above midpoint.
Outlook
The weekly ...
AUDUSD Aug 01 to Aug 05 Outlook
Lawrence’s Comment
Got our targets tagged within first half of the week then stalled from there (Y+2). Y+1 acted as support and closed the week above midpoint.
Outlook
The reaction to Y+2 means the up leg has completed. A pullback is due. As long as Y+2 to B+1 acting as resistance, Aussie will consolidate and pullback to test B-1.
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