11 Dec 2014
AUD/USD rally still holding - UOB
FXStreet (Barcelona) - Analysts at UOB Group note that the strong rally in AUD due to employment data is still holding the AUD/USD pair below the trailing-stop at 0.8400.
Key Quotes
“The strong rally in AUD earlier this morning on the back of better unemployment data is still holding below the trailing-stop at 0.8400 (high of 0.8378). While short-term pressure is on the upside, only a clear break above 0.8400 would indicate that the bearish phase has ended. Otherwise, we are holding on for a possible move back towards the recent low at 0.8220 where a break will signal further losses to 0.8180.”
Key Quotes
“The strong rally in AUD earlier this morning on the back of better unemployment data is still holding below the trailing-stop at 0.8400 (high of 0.8378). While short-term pressure is on the upside, only a clear break above 0.8400 would indicate that the bearish phase has ended. Otherwise, we are holding on for a possible move back towards the recent low at 0.8220 where a break will signal further losses to 0.8180.”