Forex Flash: AUD/USD looks bearish next week – Nomura
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AUD/USD
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen gives his outlook for AUDUSD from a purely technical perspective.
Looking at a daily chart, Amen notes that spot is higher this week but maintains his bearish view. Citing a weekly target of 1.0330 where the 200 MA currently sits, he notes the inability of spot to break through the upper Bollinger Band, suggesting that it has reached a short term top. Also RSI (14) has failed to rise which tallies with this view. With Bandwidth continuing its fall, Amen believes that spot is likely to range trade from here.
Looking at a daily chart, Amen notes that spot is higher this week but maintains his bearish view. Citing a weekly target of 1.0330 where the 200 MA currently sits, he notes the inability of spot to break through the upper Bollinger Band, suggesting that it has reached a short term top. Also RSI (14) has failed to rise which tallies with this view. With Bandwidth continuing its fall, Amen believes that spot is likely to range trade from here.
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