AUDUSD Feb 09 to Feb 13 Outlook

By News Robot

Lawrence’s Comment

Recap
Aussie spiked below Y-1 and snapped back up above without tagging Y-2 first. Y-1 turned into support sending Aussie back up to Y-0. Closed the week below Y-0 and midpoint.

Outlook
Aussie tried to form a bottom but so far it has not shown us the strength necessary for further upside. Y-0 / B+1 resistance has to be cleared first before it is confirmed that a longer term bottom is in place.

It is more likely a retest of Y-1 is necessary to decide the winning side.

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