NAB Technical FX Strategy Research notes that AUD/USD positive outlook has shifted to a new level upon the July breakout close above key resistance levels.
"Both price and momentum triggers remain positive at a LT level.
Recent price action and signs of momentum stress highlight a multi-week consolidation period.
While weekly closes remains above 0.7710/30 we target a multi-week to multi-month uptrend towards 0.8250/0.8300," NAB argues.
Source: NAB ResearchOriginal Article
