AUDUSD Feb 06 to Feb 10 Outlook

By News Robot

Lawrence’s Comment

Recap
Pullback to our support zone then rally to the resistance area as mentioned last week. By end of the week, broken thru the resistance and completed 100% absolute range expansion. Closed at the high of the week.

Outlook
Another pullback congestion in the making. The upchannel has be in force for too long that it is likely to snap out of it soon.

Like last week, B+1 to Y+2 will put a cap on the rally early in the week and B-0 should act as support.

If B-0 is taken out quickly early in the week, then a pullback to B-1 is likely.

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