Trading Edges That Last
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AUDUSD Oct 05 to Oct 09 Outlook
Lawrence’s Comment
Y-1 retest as expected. Y-1 support gave us a run for Y-0. Y-0 tagged and Aussie went sideway since. Closed the week below Y-0 and above midpoint.
Outlook
Double bottom setup on 4 hours points to a slow drift up to above B+1 / 0.71 crime scene as long as B-0 acting as support. Breakingn below B-0 points to a retest of Y-1 / B-1 but it is not necessary to go much lower because Aussie is sitting on top of longer term support zone here.
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