NAB FX Strategy Research notes AUD/USD positive technical outlook in recent months remains intact and has shifted to a new level upon the July breakout close above key resistance levels.
“Both price and momentum triggers are decisively positive at a MT/LT level.
While weekly closes remain above 0.7710/30 we target a multi-week to multi-month uptrend towards 0.8250/0.8300.
Once achieved we will re-assess for further potential gains,” NAB argues.
Source: NAB Research
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