21 Jul 2014
AUD recovers strongly - TDS
FXStreet (Guatemala) - Analysts at TD Securities give us a snap shot at the AUD and it's crosses.
Key Quotes:
"AUD/USD's strong recovery from 0.9330 support suggests moderate upside risks for the AUD near-term – but scope for a more sustained recovery remains limited after the heavy fall (weekly reversal) seen in early July".
"EUR/AUD trades softly through the close of the week and looks technically poised to extend lower; new cycle lows will support the outlook for a drop to 1.39".
"AUD/JPY's recovery today reflects the firmer AUD tone evident elsewhere but we think scope for AUD gains is limited here as well; we look for resistance in the 96.00/50 zone near-term".
Key Quotes:
"AUD/USD's strong recovery from 0.9330 support suggests moderate upside risks for the AUD near-term – but scope for a more sustained recovery remains limited after the heavy fall (weekly reversal) seen in early July".
"EUR/AUD trades softly through the close of the week and looks technically poised to extend lower; new cycle lows will support the outlook for a drop to 1.39".
"AUD/JPY's recovery today reflects the firmer AUD tone evident elsewhere but we think scope for AUD gains is limited here as well; we look for resistance in the 96.00/50 zone near-term".