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.
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Lawrence's Comment
Recap
Y+1 resistance sent Cable back down to Y-1 as expected. Closed the week below Y-0 and midpoint.
Outlook
Inside week weak close is bearish. Breakout mode with B-0 cleared ...
Lawrence's Comment
Recap
Test of Y+1 failed, giving us Y-1 downside target. Reacted to Y-0 but failed to go higher. Y-1 downside target tagged by the end of the week. Closed the ...
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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