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Forex Flash: AUD/USD technicals are bullish – Nomura

By FXstreet.com,  January 04, 2013, 10:43:00 AM EDT

FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at AUD/USD from a purely technical perspective.

Amen is bullish on the pair and notes that spot is a touch lower on the week. Looking at an daily chart he comments that spot has bounced off the 55 SMA, which looks to be providing support. RSI (14) is also at fairly neutral levels. He writes, "With (Bollinger) bandwidth quite stable, it looks like there will be a continuation of the range. Our target is 1.0500 (top of the recent price action).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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