AUDUSD Jun 09 to Jun 13 Outlook

Recap
Aussie failed to hold the Y-0 double bottom neckline and flushed down to where it started the up run. The low volume up drift back up to previous week close allowed Aussie to squeeze the shorts to its up side target of 100% absolute range expansion which also coincide with a measured move on 4 hours. Closed the week near Y+1 and above midpoint.

Outlook
Not the strong reversal the goldbugs like to see as Aussie is often a good indicator of the direction of gold.

A potential bear flag on 4 hours is in the making.

Now that Y-0 is support, if Y+1 fails to hold this up for a strong squeeze higher, Y-0 will be tested.