AUDUSD Jun 17 to Jun 21 Outlook

By News Robot

Lawrence’s Comment

Recap
Aussie bounced back to resistance as expected early in the week. But instead of crashing downward, it held Y-1 and then zoomed back up to Y-0. Closed the week below Y-0 and above midpoint.

Outlook
Gold dictated Aussie’s every move last week. Not the best environment to trade this pair unless you monitor gold closely.

4 Hour bear flag clearly in place so a retest of B-0 downto Y-1 likely. If Aussie holds there, a run to B+1 and breakout to B+2 will be in play.

The more likely outcome is bear flag breakdown with a retest of B-1.

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