SEB: AUD/USD near-term upmove looks correctional – eFXnews

FXStreet (Barcelona) - The Technical Strategy Team at SEB, sees the near-term upside bounce in AUD/USD as correctional and a part of a ‘double bottom’, as noted by eFXnews.

Key Quotes

“There is a lot of noise (within the noise) in the 2nd push higher from the 0.7600 low. This makes the move looking correctional and not part of a short-term "Double-bottom", so keep attention to what happens if 0.7695 & 0.7640 breaks. Should all this be wrong and the market in fact breaks resistance at 0.7819 on a bullish close, then a shortterm bearish stance have to be reconsidered. Current intraday stretches are located at 0.7665 & 0.7820.”

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