AUDUSD May 16 to May 20 Outlook

By News Robot

Recap
Pushed above Y-0 yet fail to hold up. Dropped quickly to Y-1 target zone. Mid week bounce created the midpoint for the week and closed the week at Y-1 area.

Outlook
Further weaknesses is expected. The initial pop from last week provided more fuel for the down move from here as more traders are trapped now.
First target area is B-2 downto Y-2.

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