AUD Trading Outlook (02-09-2015)
Medium Term Strategy: Forex Pair of the dayAUD/USD – further weakness |
| The pair remains on the downside as it remains capped by the 20 and 50-days moving averages as the RSI stands below its neutrality area. As a consequence, further weakness is expected with a first target at 0.6980 and a second one set at 0.6865 (horizontal supports). A third target is set at 0.6650. Only a rebound the strong horizontal resistance at 0.76 would turn the outlook to bullish with a first alternative target set at the previous overlap at 0.7805 and a second one set at May top at 0.8165. |
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