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AUD/USD technicals: 0.7500 on the cards for next week? - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the AUD/USD pair recovered the ground lost last Wednesday and even established a fresh weekly high of 0.7349 this Thursday, having found some support in rising gold prices.

    Key Quotes:

    "From a technical perspective, the pair continued to find buying interest on dips, in line with the dominant bullish trend and is poised to extend its advance, given that the 4 hours chart shows that the technical indicators have bounced from their mid-lines, and maintain strong bullish slopes, while the price held above a bullish 20 SMA.

    The pair has now a strong static resistance around 0.7380, and a weekly close above it should signal a continued advance beyond the 0.75 figure for the next week."
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