10 Mar 2015
AUD/USD: below 0.7625 will expose 0.7500 – UOB
FXStreet (Barcelona) - Analysts at UOB Group, believe that an AUD/USD break below the support at 0.7625 could lead to the pair extending its losses towards 0.7500 levels.
Key Quotes
“.. the clear break below 0.7740 last Friday signals the start of a fresh AUD bearish phase with an immediate target near last month’s low at 0.7625.”
“These are early days yet and a break below 0.7625 could lead to acceleration to much lower levels in the coming weeks/months (next significant support is at 0.7500).”
“Trailing-stop is still at 0.7920 for now but we believe last Friday’s peak near 0.7850 is likely strong enough to contain any short-term recovery.”
Key Quotes
“.. the clear break below 0.7740 last Friday signals the start of a fresh AUD bearish phase with an immediate target near last month’s low at 0.7625.”
“These are early days yet and a break below 0.7625 could lead to acceleration to much lower levels in the coming weeks/months (next significant support is at 0.7500).”
“Trailing-stop is still at 0.7920 for now but we believe last Friday’s peak near 0.7850 is likely strong enough to contain any short-term recovery.”