2 Jul 2015
AUD/USD needs to reclaim 0.7685 to ease downside pressure – UOB
FXStreet (Barcelona) - Analysts at UOB Group, see downside potential for AUD/USD towards 0.7605/10, and believe that the pair needs to break above 0.7685 to ease the bearish pressure.
Key Quotes
“AUD touched a high of 0.7739 before reversing quickly to close near the day’s low. The down-move from the peak is accompanied by strong momentum and the current weakness is expected to extend lower to 0.7605/10.”
“Only a move back above 0.7685 would indicate that the immediate downward pressure has eased.”
Key Quotes
“AUD touched a high of 0.7739 before reversing quickly to close near the day’s low. The down-move from the peak is accompanied by strong momentum and the current weakness is expected to extend lower to 0.7605/10.”
“Only a move back above 0.7685 would indicate that the immediate downward pressure has eased.”