Forex Flash: AUD/USD looks technically bullish – Nomura
Forex pairs in this Article »
AUD/USD
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at AUDUSD from a purely technical perspective.
Amen sets his weekly target at 1.0490, where the upper Bollinger band and the top of the recent range sit. Spot is up on the week and as such, Amen has flipped to a bullish view. Looking at his hourly chart, Amen notes that spot has been well supported by the 20 MA. Bollinger bandwidth has been very low, suggesting that spot may continue to range ahead. He feels that some retracement within the range higher is likely from the lower levels.
Amen sets his weekly target at 1.0490, where the upper Bollinger band and the top of the recent range sit. Spot is up on the week and as such, Amen has flipped to a bullish view. Looking at his hourly chart, Amen notes that spot has been well supported by the 20 MA. Bollinger bandwidth has been very low, suggesting that spot may continue to range ahead. He feels that some retracement within the range higher is likely from the lower levels.
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