AUDUSD Dec 07 to Dec 11 Outlook

By News Robot

Lawrence’s Comment

Recap
Aussie held Y-1 and took out Y+1 quickly. This opened the door to Y+2. Y+1 acted as support. Closed the week above Y+1 and midpoint.

Outlook
As I pointed out 2 weeks ago, Aussie could be telling us that gold is about to bottom out on short term basis. Gold made a strong reversal this week proves this correlation is still useful. Aussie has developed into an up channel now. Break of the channel support will take it back down to B-1. Holiday mode trading means consolidation actions likely.

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