Recap As expected Aussie cannot even tag Y-0 and sold off back down to Y-1. Struggled around Y-1 in 2nd half of the week. Closed the week below Y-1 and near week low.
Outlook Pressed down by 2 factors – Strength in US dollar due to backdrop of war looming and potential exhaustion in gold rally.
Key level remains at 0.9 right above B-0. If Aussie successfully pops higher above B-0 early next week, a run back up to B+1 / Y-0 should not be a problem.
As long as the 0.9 / B-0 zone is not breached, more downside for Aussie likely. B-2 very likely to be tagged this week.
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
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
Lawrence's Comment
Recap
Tagged Y-2 as expected. Then came the empty promises from various officials in Europe. Short squeeze all the way. Closed the week near week high.
Outlook
Same old empty ...
For more information about this report please refer to the Market Bias Informant page
Trading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
AUDUSD Sep 02 to Sep 06 Outlook
Lawrence’s Comment
As expected Aussie cannot even tag Y-0 and sold off back down to Y-1. Struggled around Y-1 in 2nd half of the week. Closed the week below Y-1 and near week low.
Outlook
Pressed down by 2 factors – Strength in US dollar due to backdrop of war looming and potential exhaustion in gold rally.
Key level remains at 0.9 right above B-0. If Aussie successfully pops higher above B-0 early next week, a run back up to B+1 / Y-0 should not be a problem.
As long as the 0.9 / B-0 zone is not breached, more downside for Aussie likely. B-2 very likely to be tagged this week.
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