- Analytics
- News and Tools
- Market News
- AUD/USD to turn back lower as 0.7209/13 resistance caps again – Credit Suisse
AUD/USD to turn back lower as 0.7209/13 resistance caps again – Credit Suisse
AUD/USD is turning back higher. Nonetheless, analysts at Credit Suisse look for key resistance at 0.7209/13 to cap again.
Sustained break above 0.7209/13 to signal a longer consolidation
“We stay core bearish with the downtrend from late October at 0.7209/13 ideally capping any additional recovery. With this in mind, we look for an eventual turn back lower, with immediate support seen at 0.7112, then at 0.7099/84 and eventually back at 0.7063/49, with a close below this later level needed to reinject fresh momentum into the downward trend – putting AUD/USD on the path to a renewed test of the YTD lows at 0.6972/62.”
“A sustained break above the late October downtrend at 0.7209/13 would lead us to reconsider our tactical position and see scope for a lengthier consolidation to emerge.”
© 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
