AUD/USD Upside Appears Capped Above 0.77 – UOB

AUD/USD Upside Appears Capped Above 0.77 – UOB

31 March 2016, 09:04
Roberto Jacobs
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AUD/USD Upside Appears Capped Above 0.77 – UOB

According to the research team at UOB Group, the pair’s upside could striggle around 0.7740.

Key Quotes

“While the break above the month’s high of 0.7680 suggests further AUD strength is likely in the days ahead, the internal momentum is not as impulsive as we would like and the upside potential appears to be limited to 0.7740”.

In order to maintain the current momentum, any pull-back should be limited and a break below 0.7550 is enough to indicate that our bullish expectation for AUD is wrong”.

(Market News Provided by FXstreet)

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