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AUDUSD Nov 11 to Nov 15 Outlook
Lawrence’s Comment
Aussie did not produce a buy setup early in the week. It just drifted higher to retest Y-0. The bear flag setup was good for a retest of Y-1 and we got that plus a lot more. Downside target reached by the end of the week. Closed the week below Y-1 and near week low.
Outlook
Aussie should extend further to the downside early in the week with clear resistance above at Y-1 / B-0.
It is the time of the year where many markets will start to go directional for a week or two and Aussie is one of them. If Aussie picks up speed to the downside, counter-trend trade will be bad idea.
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