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AUD/USD still aims for 0.7475/80 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Analysts at UOB Group still believe the Aussie dollar could grind lower towards the 0.7470 area.

    Key Quotes

    “Despite the strong short-term rebound end of last week, we still think the current pull-back from the late March high of 0.7723 has room to extend lower to test 0.7475/80 (at this stage, a sustained move below this level is not expected)”.

    “The strong resistance at 0.7635 is likely strong enough to cap any further short-term recovery, at least for the next 1 to 2 days”.
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