AUD/USD: Technical outlooks have worsened markedly - Natixis

The ST technical outlooks have worsened markedly for AUD/USD over the last days as a downside bubble has emerged on the daily chart and as the weekly indicators keep on retreating, according to Micaella Feldstein, Research Analyst at Natixis.

Key Quotes

“Against this backdrop, a test of supports at 0.7762-0.7781 (weekly Bollinger moving average) is likely.”

“We’ll be vigilant as a break below the latter would negate the weekly upside parallels, unleashing further downside potential to and 0.77 (9-month moving average) ahead of 0.7622 (50-week moving average) and 0.7567 (monthly Bollinger moving average). The resistances are 0.7904, at 0.79330.7953, at 0.7974-0.7990 and at 0.8026.”