AUDUSD: Upside parallels have emerged - Natixis

According to Micaella Feldstein, Research Analyst at Natixis, upside parallels have emerged on the daily chart for AUDUSD pair and the erosion of the 0.7485-0.75 zone (weekly Bollinger moving average) has affected the weekly downside channel.

Key Quotes

“Against this backdrop, it is likely that the AUDUSD will keep on climbing towards 0.7641-0.7657 (daily Bollinger upper band). The break of these last barriers would clear the way to the 0.7714 threshold (annual Bollinger moving average) ahead of 0.77640.7777 (weekly Bollinger upper band) and even to the 0.78 symbolic threshold. The supports stand at 0.7485-0.75, at 0.7380-0.74, at 0.73 and at 0.71740.7192.”