AUDUSD rallies are anticipated to 0.7270 - Natixis

Micaella Feldstein, Research Analyst at Natixis, suggests that as the daily stochastic is oversold, rallies are anticipated to 0.7270 (9-day moving average) ahead of 0.7370 (daily Bollinger moving average).

Key Quotes 

“Only a break of this last barrier would negate the daily downside parallels, flagging 0.7506 (weekly Bollinger moving average) as next target but we don’t favor such a view. The emergence of a downside bubble on the weekly chart and the sell signal on the monthly stochastic rather suggest a new leg lower in the next days.”

“We’ll keep a lookout at 0.7155 (daily Bollinger lower band) last threshold ahead 0.6976-0.6993 (monthly parabolic). The resistances are at 0.7270, at 0.7370, at 0.7506 and at 0.7595.”