AUDUSD BREAKOUT
The Australian dollar has initially dropped during last Friday's session only to turn around and break towards the highs again.
Aussie dollar is trying to take out the resistance and start a new trend higher, but there is growing political pressure between the United States and China causing a risk uncertainty.
Credit Suisse outlook on AUD/USD technical outlook and highlights the importance of the .6706 level for near-term direction.
Support initially at .6568, then .6538, ahead of the late May lows and 21-day exponential average at .6520/06, where we would expect to see fresh buying.
Breakout indicator signalling more long to come.
Aussie dollar is trying to take out the resistance and start a new trend higher, but there is growing political pressure between the United States and China causing a risk uncertainty.
Credit Suisse outlook on AUD/USD technical outlook and highlights the importance of the .6706 level for near-term direction.
Support initially at .6568, then .6538, ahead of the late May lows and 21-day exponential average at .6520/06, where we would expect to see fresh buying.
Breakout indicator signalling more long to come.
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