Technical analysis chart for the ozzn Australian dollar with S&R
This via analysts at Credit Suisse, see what you think:
CS commentary (in very brief)
AUDUSD is consolidating as expected after a dramatic surge, which completed a major ‘head and shoulders’ base and turned our medium term bias higher.
Although further consolidation should not be excluded, we ideally look for the market to hold above the ‘neckline’ to the large base at .7072.
Major S& R noted:
- Key resistance is now seen at .7206, ahead of the 2019 highs at .7284/95. Support at .7072/63 ideally holds.