Forex Flash: Technically speaking, AUD/USD is bearish ahead – Nomura
Forex pairs in this Article »
AUD/USD
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen takes a look at AUDUSD from a purely technical perspective.
Looking at his daily chart, Amen notes that spot is lower on the week and he is staying bearish. RSI (14) is still dropping, indicating that momentum is still downward, as is the lack of confirmation of yesterday's doji candlestick. He notes that Bollinger bandwidth is low, indicating a continuation of range bound trading. His target for the week is close at 1.0400, the lower Bollinger and 55 SMA.
Looking at his daily chart, Amen notes that spot is lower on the week and he is staying bearish. RSI (14) is still dropping, indicating that momentum is still downward, as is the lack of confirmation of yesterday's doji candlestick. He notes that Bollinger bandwidth is low, indicating a continuation of range bound trading. His target for the week is close at 1.0400, the lower Bollinger and 55 SMA.
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