AUDUSD Jul 29 to Aug 02 Outlook

By News Robot

Lawrence’s Comment

Recap
Retested Y+1 as expected. That led to a quick selloff back down to Y-0 and stopped there. Aussie bounced back up to week high zone and stalled. Closed the week above midpoint and Y-0.

Outlook
The first part of the expected swing, test of Y+1, was completed.

An interested reversal potential has developed. If Aussie can clear B+1 a push towards B+2 and then B+3 will be in play.

The 2nd part of the expected swing, a drop to Y-1, however, is still in effective as long as B+1 is acting as resistance.

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