AUD/USD bullish in the short-term – FXStreet

By FXStreet Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar reversed its latest losses against the greenback and advanced recovered the 0.7600 level.

Key Quotes:

“Buoyed during the previous Asian session on optimistic remarks from RBA governor Glenn Stevens, who offered quite an optimistic outlook of the local economy.

A deep down to 0.7550 early Europe resulted in a quick, sharp bounce, indicating that buying the dips is still the way to go with the AUD/USD pair.

The short term picture for the pair is bullish, as in the 1 hour chart, the price is currently developing above a bullish 20 SMA, while the technical indicators are within positive territory, but lacking directional strength.”
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Source:: FX Street