Trading Edges That Last
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AUDUSD Sep 26 to Sep 30 Outlook
Lawrence’s Comment
As mentioned last week, downtrend has established. Resistance zone worked out as expected, sending Aussie down to Y-5.
Outlook
Downtrend intact.
The range expansion from last week created an oversold condition that is likely to attract Aussie to bounce back to B-0 area. That will come in play if a flush early this week resulted in a quick bounce proving B-1 is an important support zone.
Otherwise, consolidation to lower prices with Y-3 to B-0 as the resistance area.
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