Recap Aussie rising wedge turned into a thin up channel leaning on Y-0 support. Normal upside target Y+2 tagged. Closed the week above Y-0 and below midpoint.
Outlook Potential break of up channel and rising wedge in progress. As long as Y+1 / B-0 zone acting as resistance a drop towards B-2 is likely.
Lawrence's Comment
Recap
Bear flag broken, dropped to B-1 and below as expected. Bounced back up to Y-0 and led to another drop to week low. Closed the week below Y-1 and ...
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Lawrence's Comment
Recap
Warned Y-0 is the line in the sand where European officials would defend. Happened like clockwork. Free ride up to almost Y+2. Closed the week above Y+1 and midpoint.
Outlook
Chart ...
AUDUSD Aug 15 to Aug 19 Outlook
Lawrence’s Comment
Aussie rising wedge turned into a thin up channel leaning on Y-0 support. Normal upside target Y+2 tagged. Closed the week above Y-0 and below midpoint.
Outlook
Potential break of up channel and rising wedge in progress. As long as Y+1 / B-0 zone acting as resistance a drop towards B-2 is likely.
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