Recap As expected, Aussie stays weak and failed to clear Y-0. Dropped below Y-1 and stopped at equal distance off previous week close. Closed the week near Y-1 and below midpoint.
Outlook Decisive rejection of Y-0 gave us clean break of Y-1 thus Y-2 is still in play. It is also the original target stated last week. As long as B-0 is acting as resistance it is likely we get Y-2 and B-2 either this week or next.
Lawrence's Comment
Recap
As expected, once 0.98 was breached, there is no real support until we see 0.96 handle. After 100% absolute range expansion, the pair bounced off near Y-3. ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
AUDUSD Aug 11 to Aug 15 Outlook
Lawrence’s Comment
As expected, Aussie stays weak and failed to clear Y-0. Dropped below Y-1 and stopped at equal distance off previous week close. Closed the week near Y-1 and below midpoint.
Outlook
Decisive rejection of Y-0 gave us clean break of Y-1 thus Y-2 is still in play. It is also the original target stated last week. As long as B-0 is acting as resistance it is likely we get Y-2 and B-2 either this week or next.
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