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07.10.2019 14:02

AUD/USD: Above 0.6776/84 needed to mark a n-term base - Credit Suisse

Credit Suisse discusses AUD/USD technical outlook and maintains a bearish bias pending a close back above 0.6776/84.

"Big picture, below the .6677 low for the year is expected in due course to resolve the range to the downside for a resumption of the core bear trend with little in the way of meaningful support not seen until the potential uptrend from the 2001 low, currently at .6552. Big picture, we see more important starting at the .6249 low of 2009 and stretching down to .6009, the 2008 low. Above .6776/84 is needed to mark a near -term base, with resistance then at .6806 initially," CS adds.

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