- Analytics
- News and Tools
- Market News
- AUD/USD: Breakout above 0.7541/57 to open up additional gains toward 0.7777/85 – Credit Suisse
AUD/USD: Breakout above 0.7541/57 to open up additional gains toward 0.7777/85 – Credit Suisse
The Australian dollar is expected to be one of the stronger currencies in Q2. In the view of analysts at Credit Suisse, AUD/USD looks like it is in the process of forming a small bullish “pennant”, which would be confirmed above 0.7541/57 and would mark an important medium-term breakout.
Key support aligns at 0.7455/41
“This consolidation phase could be a small bullish ‘pennant’ continuation pattern, which would be triggered above the October and recent range high at 0.7541/57. Above here would open up a move to the late June and July highs at 0.7599/7616, with only a sustained break above here making a solid case for a fresh medium-term uptrend to arise, with next resistance then seen at 0.7715, before 0.7777/85.”
“Support is seen at 0.7479/68 initially, ahead of the last week’s low at 0.7455/41. Below here would shift our bias to tactically neutral, with next support at the recent price low at 0.7372/58, with a move below here shifting the near-term risk lower and warning of a potential fall back to mid-March low at 0.7173/63.”
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
