- Analytics
- News and Tools
- Market News
- AUD/USD: Upside bias with resistance seen at 0.7276/95 - Credit Suisse
AUD/USD: Upside bias with resistance seen at 0.7276/95 - Credit Suisse
FXStreet reports that the Credit Suisse analyst team notes that AUD/USD rallied strongly on Wednesday and broke above its 0.7216 mid-range highs to turn the focus onto the broader range highs at 0.7276/95.
“AUD/USD rose rapidly on Wednesday after holding key support at the 21-day exponential average at 0.7172 as expected. Although short-term momentum remains poor despite this recovery, which is a concern, we stay biased higher whilst above 0.7172, as this level has held since April. With this in mind, the break above near-term resistance at 0.7207/16 turns the focus onto the recent range high and 2019 highs at 0.7276/95.”
“Above 2019 highs at 0.7276/95 the aussie would reinforce the upmove and open up 0.7394, whilst our medium-term objective remains unchanged at a cluster of Fibonacci retracements at 0.7574/7638.”
“A closing break below 0.7172 would still turn our short term outlook lower, with a move below 0.7140/32 also completing a small intraday top for a move to 0.7109. A break below here would signal a move back to 0.7076/63.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
