AUD/USD still aims for 0.7475/80 – UOB

Analysts at UOB Group still believe the Aussie dollarcould 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”.