25 Apr 2016
AUD/USD eyes on 0.7790 – UOB
The research team at UOB Group expects the Aussie dollar to regain the 0.7790 in the next 1-3 weeks.
Key Quotes
“While the stop-loss for our bullish AUD view at 0.7660 is still intact, the down-move from the recent high of 0.7835 has been deeper and more resilient than expected. In other words, the odds for a move to our target have diminished”.
“From here, AUD has to reclaim 0.7790 within these two days or the outlook will shift to neutral (or if 0.7660 is taken out first)”.
Key Quotes
“While the stop-loss for our bullish AUD view at 0.7660 is still intact, the down-move from the recent high of 0.7835 has been deeper and more resilient than expected. In other words, the odds for a move to our target have diminished”.
“From here, AUD has to reclaim 0.7790 within these two days or the outlook will shift to neutral (or if 0.7660 is taken out first)”.