AUD/USD Still Aims for 0.7475/80 – UOB

AUD/USD Still Aims for 0.7475/80 – UOB

11 April 2016, 13:36
Roberto Jacobs
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AUD/USD Still Aims for 0.7475/80 – UOB

Analysts at UOB Group still believe the Aussie dollar could grind lower towards the 0.7470 area.

Key Quotes

“Despite the strong short-term rebound end of last week, we still think the current pull-back from the late March high of 0.7723 has room to extend lower to test 0.7475/80 (at this stage, a sustained move below this level is not expected)”.

“The strong resistance at 0.7635 is likely strong enough to cap any further short-term recovery, at least for the next 1 to 2 days”.


(Market News Provided by FXstreet)

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