AUD/USD bullish phase could be over – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group has suggested that the current bullish phase in the Aussie dollar could be nearly over.

    Key Quotes

    “The rapid drop from the high of 0.7595 yesterday (holding just below the revised 0.7600 target) is a warning sign that the current bullish AUD phase may be close to an end”.

    “Those who are long should look to take partial profit on any attempt towards 0.7600. Stop-loss is adjusted higher to 0.7425 from 0.7400”.
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