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AUD/USD: technically bullish, key support 0.7720 - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Valera Bednarik, chief analyst at FXStreet explained that the technical outlook for AUS/USD is neutral-to-bullish in the 1 hour chart.

    Key Quotes:

    "As the technical indicators have turned well above their mid-lines, although the 20 SMA maintains a strong bullish slope below the current level. "

    "In the 4 hours chart, however, the pair presents a strong upward potential, as the Momentum indicator maintains a clear upward slope near overbought territory, and the RSI indicator heads north around 70, all of which supports some further gains. Retracements towards the 0.7720 region will likely attract buying interest, without affecting the ongoing bullish trend."
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