The following statement is from the fine people at eFX.
If you’re looking for suggestions on banking trades, look no further than eFX Plus. There’s a 7-day trial period available, with basic access costing $79 per month, and premium priced at $109 per month. Get started here.In the initial quarter of the year, Credit Suisse has a bullish outlook on AUD/USD and has reviewed the technical outlook.
- CS remarks that the AUDUSD has made significant increases after hitting its lowest point in mid-October and is now surpassing the 200-day average, the 50% retracement of the April/November decline, and the recent high at .6841/6915.
- CS additionally states that, with the weekly MACD indicating a positive trend, this breakout signals a new period of growth towards the August high at .7046 and the chance of achieving the June peak and retracement resistance at .7282/7305, although this is predicted to act as a strong cap and form a possible high point within the wide range of Q1.
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The AUD update was given a lift following the US CPI release. Unfortunately, a technical issue caused the chart to appear above instead of below.
