AUD/USD Attention Shifted to 0.72 – UOB
Analysts at UOB Group noted further weakness lies ahead for the Aussie dollar in case of a daily close below the 0.7200 handle.
“AUD dipped below 0.7200 yesterday but rebounded quickly from a low of 0.7175”.
“The bias is tilted to the downside but as mentioned yesterday, a sustained down-move is likely only upon a clear break below 0.7200 (say a daily closing below this level)”.
“In the meanwhile, this pair is expected be on the defensive unless it can reclaim 0.7300”.