22 May 2015
AUD/USD range-trade expected – UOB
FXStreet (Barcelona) - Analysts at UOB Group expected AUD/USD to remain in the 0.7860-0.8010 range in the coming week.
Key Quotes
“The strong support at 0.7860/65 continues to hold and based on the current short-term momentum, a clear break below this level is unlikely in the next couple of days. However, any rebound from here is viewed as part of a broad consolidation phase and not the start of a sustained up-move.”
“In other words, we expect this pair to trade sideways for the coming week with key levels at 0.7860 and 0.8010.”
Key Quotes
“The strong support at 0.7860/65 continues to hold and based on the current short-term momentum, a clear break below this level is unlikely in the next couple of days. However, any rebound from here is viewed as part of a broad consolidation phase and not the start of a sustained up-move.”
“In other words, we expect this pair to trade sideways for the coming week with key levels at 0.7860 and 0.8010.”