AUDUSD Jun 02 to Jun 06 Outlook

Recap
Aussie could not push higher as expected and dropped back down to retest Y-1. Y-1 rejected, gave us target Y-0 and the double bottom gave us target at the pre-breakdown price. Aussie rallied higher and got both targets. Closed the week above Y-0 and midpoint.

Outlook
Strength in Aussie deviated from gold’s actions last week. It is rare that Aussie does that. Should gold accelerate its selloff, Aussie will be dragged lower.

Y+1 is resistance until proven otherwise. A drop back down to retest the double bottom neckline near B-0 is likely.