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AUD/USD bullish in the short-term - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar reversed its latest losses against the greenback and advanced recovered the 0.7600 level.

    Key Quotes:

    "Buoyed during the previous Asian session on optimistic remarks from RBA governor Glenn Stevens, who offered quite an optimistic outlook of the local economy.

    A deep down to 0.7550 early Europe resulted in a quick, sharp bounce, indicating that buying the dips is still the way to go with the AUD/USD pair.

    The short term picture for the pair is bullish, as in the 1 hour chart, the price is currently developing above a bullish 20 SMA, while the technical indicators are within positive territory, but lacking directional strength."
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