25 Apr 2014
AUD/USD: Outlook shifts to bearish - UOB
FXStreet (Bali) - The Market Strategy Team at UOB Group has shifted the AUD/USD outlook to bearish.
Key Quotes
"Expect AUD to weaken towards 0.9185 followed by 0.9135 in the next 1-2 weeks. AUD broke below the strong support at 0.9255 yesterday with a low of 0.9252."
"This coupled with the weak daily closing is enough for us to shift our outlook to bearish. The immediate target is at 0.9185 (rising trend-line & middle of Envelope) followed by 0.9135."
"Expect any short-term rebound to hold below 0.9315 but only a break above 0.9375/80 wouldindicate that the bearish view is wrong."
Key Quotes
"Expect AUD to weaken towards 0.9185 followed by 0.9135 in the next 1-2 weeks. AUD broke below the strong support at 0.9255 yesterday with a low of 0.9252."
"This coupled with the weak daily closing is enough for us to shift our outlook to bearish. The immediate target is at 0.9185 (rising trend-line & middle of Envelope) followed by 0.9135."
"Expect any short-term rebound to hold below 0.9315 but only a break above 0.9375/80 wouldindicate that the bearish view is wrong."