The eFXnews Team shares SEB’s technical outlook for AUD/USD, with SEB predicting the pair to bounce higher from 0.7720 before resuming lower.
Key Quotes
“After the strong rejection lower on Wednesday the market has both rechecked and validated the break of the very important 0.8066 key support hence the green light has been given to additional losses, next probably down to the estimated 2001 support line, currently running at 0.7277.”
“The strategy should hence remain to sell into all up tics and for today we are looking for the bounce from 0.7720 to likely end around 0.7800/10. The break lower in AUD/JPY, from an almost two yearlong wedge will also help putting more pressure on the oz.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“After the strong rejection lower on Wednesday the market has both rechecked and validated the break of the very important 0.8066 key support hence the green light has been given to additional losses, next probably down to the estimated 2001 support line, currently running at 0.7277.”
“The strategy should hence remain to sell into all up tics and for today we are looking for the bounce from 0.7720 to likely end around 0.7800/10. The break lower in AUD/JPY, from an almost two yearlong wedge will also help putting more pressure on the oz.”
This content has been provided under specific arrangement with eFXnews.
