Credit Suisse targets AUD/USD towards 0.7305 in Q1

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Credit Suisse discusses AUD/USD technical outlook and adopts a bullish bias in Q1.

• "AUDUSD has made significant gains after establishing a bottom in mid-October and is currently seeing a breach above the top of its recent range at the 200-day average, the 50% retracement of the April/November decline and the recent high at .6841/6915," CS notes.
• "With positive weekly MACD momentum, this breakout signals a fresh phase of strength towards the August high at .7046 with scope for the June high and retracement resistance at .7282/7305, but with this expected to provide a tough cap and serve as a potential top to a broad range during Ql," CS adds.

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AUD AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term update, got a (further) boost after US CPI .... huh, attacked by a tech gremlin, chart is above, not below ....