AUD/USD Weekly Outlook
AUD/USD formed a temporary bottom at 1.0177 and recovered since then. Initial bias remains neutral this week for some consolidations. But after all, we’re favoring the case the corrective rise from 0.9926 is already completed with three waves up to 1.0764. Hence, we’d expect current recovery to be limited by 1.0481 support turned resistance and bring another fall. Below 1.0177 will extend the decline from 1.0764 to retest 0.9926 low. Nevertheless, break of 1.0481 will dampen our bearish view and turn focus back
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