AUD/USD sees potential for a test of 0.7100 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The Aussie dollar could advance beyond the 0.7100 handle, according to the research team at UOB Group.

    Key Quotes

    “The break of 0.7005 indicates that the bearish phase that started about 2 weeks ago has ended”.

    “A short-term bottom is likely in place at the recent low of 0.6825/30”.

    “At this stage, the current movement is viewed as a corrective rebound but internal momentum suggests that a move higher to 0.7110 in the next couple of weeks will not be surprising”.
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