The research team at UOB Group expects the pair to keep its positive stance above the 0.7065/70 area. Key Quotes “As highlighted several times in recent updates, the undertone for AUD is positive as long as above 0.7065/70 and a daily closing above 0.7200 would confirm the start of a bullish phase”. “We have the confirmation overnight and from here, the immediate target is for a move to the late December high of 0.7325/30 (next resistance is at 0.7385)”. “In order to maintain the current momentum, any pull-back should above 0.7170 but only a break below 0.7130 would indicate that our bullish view is wrong”. For more information, read our latest forex news.