7 Apr 2015
AUD/USD outlook bearish – UOB
FXStreet (Barcelona) - Analysts at UOB Group, maintain a bearish outlook on AUD/USD, expecting a move towards 0.7480.
Key Quotes
“While the sharp drop from the overnight high of 0.7667 appears to be the next down-leg of the current bearish AUD phase, the downward momentum is not very strong at this stage and last week’s low of 0.7532/37 will likely be difficult to break for now.”
“That said, the outlook for this pair is clearly bearish and as long as the trailing stop-loss at 0.7720 is not taken out, we expect an eventual move to the major support at 0.7480.”
Key Quotes
“While the sharp drop from the overnight high of 0.7667 appears to be the next down-leg of the current bearish AUD phase, the downward momentum is not very strong at this stage and last week’s low of 0.7532/37 will likely be difficult to break for now.”
“That said, the outlook for this pair is clearly bearish and as long as the trailing stop-loss at 0.7720 is not taken out, we expect an eventual move to the major support at 0.7480.”