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AUD/USD could test 0.7415/10 in the near term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of the research team at UOB Group, the Aussie dollar could returns towards the 0.7415/10 band in 1-3 weeks.

    Key Quotes

    “The unexpected sharp drop suggests that AUD has topped at the high of 0.7649 yesterday (target at 0.7740 not met)”.

    “The current decline is viewed as a corrective pull-back but strong short-term downward momentum suggests that an extension lower to test last week’s low near 0.7410/15 would not be surprising”.

    “Resistance is at 0.7580 but only a move back above 0.7620 would indicate short-term stabilization”.
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