Trading Edges That Last
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AUDUSD Jul 08 to Jul 12 Outlook
Lawrence’s Comment
Aussie tried to find a bottom above Y-2 indeed. The problem is that it takes time to absorb the selling. Closed the week near week low and below Y-1.
Outlook
Until B-0 is breached to the upside, prefered with a quick rally tagging B+1 first, Aussie is still trapped in consolidation / bottom forming.
A good long setup from B-0 will send it back up to B+2. Not interesting in the down side as oversold condition is building up.
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