AUD/USD: An Imminent Upswing On The Cards; Weekly Close Key - NAB

NAB FX Technical Strategy Research notes that AUD/USD positive outlook remains in play on a monthly basis.

"Additional bullish confirmation will be achieved with a monthly close above the  50-month MA at 0.8030.

With ST momentum now at extreme oversold levels and price holding above its key LT pivot we anticipate an imminent upswing and return to the MT uptrend.

While weekly closes remain above 0.7690/10 we target a multi-week to multi-month uptrend towards 0.8250/0.8350," NAB argues.

Source: NAB Research