Recap FBO against Y-1 early in the week gave us a run towards Y+1. Yet, 100% absolute range expansion stopped the attempt below Y+1. Aussie dropped back down all the way. Closed the week near Y-1 and week low.
Outlook B-2 and B-3 in play if B-1 / Y-1 zone turns into resistance. To break the daily down trend a strong move above B+1 is necessary.
Lawrence's Comment
Recap
Aussie tried to go higher yet there was not enough volume. Went back down in consolidation style. Similar to loonie, chose to print the week extreme at the end ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
AUDUSD Jun 08 to Jun 12 Outlook
Lawrence’s Comment
FBO against Y-1 early in the week gave us a run towards Y+1. Yet, 100% absolute range expansion stopped the attempt below Y+1. Aussie dropped back down all the way. Closed the week near Y-1 and week low.
Outlook
B-2 and B-3 in play if B-1 / Y-1 zone turns into resistance. To break the daily down trend a strong move above B+1 is necessary.
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