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AUD/USD Classical Technical Report 02.06

AUD/USD Classical Technical Report 02.06

Joel Kruger, Technical Strategist
aud_techs_body_aud.png, AUD/USD Classical Technical Report 02.06

AUD/USD: The latest surge looks like it could finally be ready to stall, with the market reaching and slightly exceeding key resistance by the highs from October in the 1.0700’s. Overall, our core outlook remains intensely bearish and we look for a more significant downside extension back below parity over the coming weeks. Daily studies have now officially traded into overbought territory and a close back under 1.0700 should encourage bearish reversal prospects.

--- Written by Joel Kruger, Technical Currency Strategist

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.