AUDUSD Oct 29 to Nov 02 Outlook

By News Robot

Lawrence’s Comment

Recap
Y-0 did not hold the price up yet the flush could not breach Y-1 either. The reversal from below Y-0 gave up before Y+1 was tagged and stalled back down to Y-0. Closed the week above Y-0 and midpoint.

Outlook
Very odd price actions. 3rd week in a row with slowly rising midpoint. Inside week too. A break of B-1 will induce a very strong selloff to B-3.

However, since the uptrend over the past few weeks is not broken, the more likely scenario is a push towards Y+1 first.

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