AUD/USD further upside potential / target 0.8375
The AUD/USD previously generated a technical buy signal at 0.7851 (as detailed in 27/4/15 wire), resulting in the technical outlook turning positive. The nominated minimum upside target was located @0.8200. QMG clients were provided with a Technical Alert yesterday highlighting the potential existed for a secondary technical buy signal to be generated. The overnight rally has resulted in the AUD/USD closing above the required key resistance barrier located @0.8040, which satisfied the technical criteria to generate the secondary technical buy signal. The upside technical target has been increased to 0.8375.
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.