AUDUSD May 27 to May 31 Outlook

By News Robot

Lawrence’s Comment

Recap
No spike lower in the beginning of the week so we did not get a reversal. The normal scenario of consolidation around B-1 happened. No surprise unlike the wild moves in some other pairs. Closed the week below Y-1 and midpoint.

Outlook
Same play this week again. A spike bottom early in the week will give us a spring to ride on for a run back up to B+1 and probably B+2.

Without that B+1 will be solid resistance and another push lower to B-2 is expected.

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