7 May 2014
AUD/USD has likely seen an important low at 0.92 - UOB
FXStreet (Bali) - The Market Strategy Team at UOB Group believes that we have seen an important low on AUD/USD at 0.92.
Key Quotes
"While the key resistant at 0.9380 is still intact, the strong overnight rally suggests that we have likely seen an important low at 0.9200/05 last Friday. In the meanwhile, we prefer to see a clear break above 0.9380 before shifting to a bullish outlook. On a shorter-term basis, only a move back below 0.9270 would indicate that an interim top is in place."
Key Quotes
"While the key resistant at 0.9380 is still intact, the strong overnight rally suggests that we have likely seen an important low at 0.9200/05 last Friday. In the meanwhile, we prefer to see a clear break above 0.9380 before shifting to a bullish outlook. On a shorter-term basis, only a move back below 0.9270 would indicate that an interim top is in place."