Recap Pull back as expected. Too fast so Y-0 could only hold this up for just a pause. Y-1 tagged before mid week. Springed back above Y-1 to close the week.
Outlook Y+1 rejected decisively so clear resistance above Y-0. Interestingly, Aussie has found support below Y-1. Thus the pair is likely trapped between Y-0 to Y-1 until a breakout of this range.
Lawrence's Comment
Recap
Y-0 failed to act as support and turned into resistance. Channel break down led to test of the start of the channel which is Y-2. Found support at Y-2 ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
AUDUSD Nov 07 to Nov 11 Outlook
Lawrence’s Comment
Pull back as expected. Too fast so Y-0 could only hold this up for just a pause. Y-1 tagged before mid week. Springed back above Y-1 to close the week.
Outlook
Y+1 rejected decisively so clear resistance above Y-0. Interestingly, Aussie has found support below Y-1. Thus the pair is likely trapped between Y-0 to Y-1 until a breakout of this range.
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