Market news
19.03.2021, 10:41

AUD/USD to hint a resumption of the bull trend only on a clear close above 0.7838/49 – Credit Suisse

FXStreet reports that Credit Suisse analyst team discusses AUD/USD prospects.

“We keep our view for further sideways trading intact for now, with a mild downside tilt, based on the potential for a ‘head and shoulders’ top. With this in mind, we see support initially at 0.7724, ahead of the recent low at 0.7699, removal of which would expose 0.7622/21 next.” 

“Beyond 0.7622/21 would increase the risk of a more important ‘head and shoulders’ top again, which would be triggered beneath the cluster of supports at 0.7583/57 – the early February lows.”

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