AUD/USD: Technically Bullish, Key Support 0.7720 - FXStreet
20 April 2016, 06:59
0
63
AUD/USD: Technically Bullish, Key Support 0.7720 - FXStreet
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."
