AUDUSD Jul 18 to Jul 22 Outlook

Recap
Got the breakout we asked for. Aussie dropped below Y-1 and tagged Y-3 quickly. But there was no test of Y-1 as resistance at all. The pair simply zoom back up to Y+1. That often means a higher timeframe is in play. In this case, it is monthly and yearly price levels kicking in. Ended the week below midpoint after failure to take out Y+1 again.

Outlook
B-1 is likely to be retested. As oppose to establishing a trend from the break of Y-1, we now get a larger range from B-1 to B+1 to deal with. I will avoid the pair as bias cannot be establish right now.