8 Dec 2014
Expect further AUD weakness albeit at a slower pace – UOB
FXStreet (Barcelona) - The UOB Group Research Team notes that further weakness is anticipated for AUD if it fails to move above 0.8475 levels, and targets 0.8250 & 0.8180 levels for the AUD/USD pair.
Key Quotes
“The revised target of 0.8340 highlighted in last Monday’s update was met last Friday. While the outlook for this pair is still bearish, the downward momentum is showing signs of waning and stochastic are clearly at oversold levels. That said, until there is a move above 0.8475, further weakness is expected albeit likely at a slower pace.”
“The next level to aim for is at 0.8250 followed by 0.8180. 0.8400 is a strong resistance ahead of 0.8475.”
Key Quotes
“The revised target of 0.8340 highlighted in last Monday’s update was met last Friday. While the outlook for this pair is still bearish, the downward momentum is showing signs of waning and stochastic are clearly at oversold levels. That said, until there is a move above 0.8475, further weakness is expected albeit likely at a slower pace.”
“The next level to aim for is at 0.8250 followed by 0.8180. 0.8400 is a strong resistance ahead of 0.8475.”