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Sep 16 - 01:24 PM
AUD/NZD: Bullish Weekly RSI Breakout Confirms Sustained M-Term Uptrend Towards 1.10 - NAB
First appeared on eFXplus on Sep 16 - 11:15 AM

NAB Research discusses AUD/NZD technical outlook and maintains a bullish bias on a multi-weeks basis.

"Bullish weekly RSI breakout confirms last week’s close above 1.0720/40 as a material bullish MT uptrend confirmation...Weekly RSI has broken above its two-year downtrend, confirming an impulsive uptrend backed by the most positive MT momentum bias in two years," NAB notes. 

"While weekly closes remain above 1.0720/40 we anticipate price establishing a new (approximate) 1.08/1.10 range. The top of that range should be challenged in the coming weeks to months," NAB adds. 

Source:
NAB Research/Market Commentary

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