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AUD/USD: about to stage a sustained rally - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at UOB Group noted the bid in the Aussie despite negative fundamentals.

    Key Quotes:

    "Although the AUD/USD slipped on Wednesday as China’s President Xi underlined the challenges facing China’s transition to an internal demand driven model and as concerns about China’s steel industry continue to garb centre stage; the currency has shot up.

    AUD is about to stage sustained rally in the coming days. 0.7070 is acting as a very strong support now."
    For more information, read our latest forex news.
     

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