AUD/USD outlook remains technically bullish – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analysts at FXStreet noted that the Australian dollar regained the upside against its American rival this Thursday in the US, with the pair flirting with the 0.7100 level by the end of the day, trading at levels not seen since September 1st.

Key Quotes:

“The Aussie was supported by better-than-expected Chinese inflation figures and an upward surprise in Australian employment data, as the country managed to create 17,400 new jobs, against expectations of 5,000, whilst the unemployment rate fell as expected to 6.2%.”

“The 1 hour chart shows that the 20 SMA is crossing above the 200 EMA below the current level, whilst the technical indicators have turned flat near overbought levels, as the pair has spent the last few hours in consolidative mode.

In the 4 hours chart, however, the technical outlook is bullish, as the 20 SMA heads sharply higher below the current level, whilst the technical indicators have regained their upward strength after a brief downward correction.”
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Source:: FX Street