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AUDUSD Jul 07 to Jul 11 Outlook
Lawrence’s Comment
Aussie broke out to the upside tagging Y+2 but failed to hold above Y+1. That opened the door to Y-1 due to the violent FBO. Y-1 tagged next. Closed the week near Y-1 and below midpoint.
Outlook
Wide range outside week reversal in place. It is a surprise partly due to the strength in gold lately. At this point, Aussie is foretelling gold may not be able to hold onto its gains.
As long as Y-0 / B-0 acting as resistance, a push towards B-2 is likely.
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