Trading Edges That Last
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AUDUSD Mar 31 to Apr 04 Outlook
Lawrence’s Comment
Aussie held Y-0 and gave us upside breakout. No FBO implies normal breakout target Y+3 in play. Y+3 tagged later in the week. Closed the week above Y+2 and midpoint.
Outlook
Breakout was stop run induced. That points to Y+2 retest is necessary. B-0 is also possible as long as B+1 acting as resistance.
Latest rounds of US vs. Russia events can turn ugly faster than we blink. If the situation escalates in coming few weeks, be ready for wild rides with Aussie and Loonie as they are closely related to gold, the metal of war.
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