AUD/USD seen slipping towards 0.7475/80 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Analysts at UOB Group noted the Aussie dollar could grind lower to the 0.7475/80 band in the near term.

    Key Quotes

    “The price action is line with our view wherein we expect the current pull-back in AUD to extend lower to 0.7475/80”.

    “Based on the internal momentum, a move below this level would not be surprising but a sustained drop below this level appears unlikely at this stage”.

    “Resistance is at 0.7585 and yesterday high of 0.7635/40 is unlikely to come under threat, at least not for the next couple of days”.
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