Recap Y-1 and below proven strong support led to strong rally back up to the crime scene before the break down from the week before last. Since then Aussie stalled. Closed the week near Y-0 and midpoint.
Outlook Reduced range and closing near both midpoints means indecision. Aussie still not finding its direction yet. Until one side is cleared, expecting range bounded 2-way play.
Lawrence's Comment
Recap
Dropped to Y-1 and found support. Stopped at resistance zone mentioned last week. Closed the week below Y0 and above midpoint.
Outlook
Tight range consolidation while trapped between Y-0 ...
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AUDUSD May 11 to May 15 Outlook
Lawrence’s Comment
Y-1 and below proven strong support led to strong rally back up to the crime scene before the break down from the week before last. Since then Aussie stalled. Closed the week near Y-0 and midpoint.
Outlook
Reduced range and closing near both midpoints means indecision. Aussie still not finding its direction yet. Until one side is cleared, expecting range bounded 2-way play.
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