The research team at UOB Group argued the Aussie dollar could find strong support in the 0.7600 area.
“The RBA policy decision is on Tuesday. The OCR should be left steady at 2.0%, though the mildly dovish bias is expected to be maintained, and the central bank may take the opportunity to talk down the Australian dollar”.
“There is no change to our bullish view but as pointed out in recent updates, the potential for the current bullish phase in AUD is likely limited to 0.7740. Stop-loss is unchanged at 0.7550 but 0.7600 is already a strong support”.
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