Forex Flash: AUD/USD bearish for the week ahead – Nomura
Forex pairs in this Article »
AUD/USD
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen offers his outlook on AUDUSD from a purely technical perspective.
Looking at a daily chart Amen notes that spot is higher on the week. However, he has flipped to a bearish outlook. He notes that RSI has stalled and spot has been unable to break past the upper part of the range. Also, Bollinger Bandwidth is very low, indicating that there could be some range-bound price action ahead. However, he urges caution of any expansion as it may be indicative of a break out. He has a target of 1.0320.
Looking at a daily chart Amen notes that spot is higher on the week. However, he has flipped to a bearish outlook. He notes that RSI has stalled and spot has been unable to break past the upper part of the range. Also, Bollinger Bandwidth is very low, indicating that there could be some range-bound price action ahead. However, he urges caution of any expansion as it may be indicative of a break out. He has a target of 1.0320.
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