9 Jan 2014
Flash: AUD/USD reversal suggests more downside - UOB Group
FXstreet.com (Barcelona) - The Market Strategy Team at UOB Group are anticipating further downside for AUD/USD today.
Key Quotes
"While the anticipated recovery reached 0.8950 (overnight high of 0.8953), the sharp reversal from the high suggests further downside probe today. However, downward momentum is not very strong at this stage and any down-move is likely limited to 0.8860/65 for now."
"On the upside, 0.8920 is already a strong resistant ahead of the overnight high at 0.8953."
Key Quotes
"While the anticipated recovery reached 0.8950 (overnight high of 0.8953), the sharp reversal from the high suggests further downside probe today. However, downward momentum is not very strong at this stage and any down-move is likely limited to 0.8860/65 for now."
"On the upside, 0.8920 is already a strong resistant ahead of the overnight high at 0.8953."