18 Jun 2015
AUD/USD might re-test 0.7770 – UOB
FXStreet (Barcelona) - Analysts at UOB Group, expect AUD/USD to see a dip towards 0.7695/00 before moving higher to re-test 0.7770.
Key Quotes
“Instead of trading sideways, AUD dropped to a low of 0.7636 before rallying to close higher for the day. While further up-move is not ruled out, patchy upward momentum suggests limited upside potential.”
“Allow for a dip to 0.7695/00 but 0.7660 is likely strong enough to hold for a retest of the overnight high near 0.7770 (a sustained move above this level appears unlikely at this stage).”
Key Quotes
“Instead of trading sideways, AUD dropped to a low of 0.7636 before rallying to close higher for the day. While further up-move is not ruled out, patchy upward momentum suggests limited upside potential.”
“Allow for a dip to 0.7695/00 but 0.7660 is likely strong enough to hold for a retest of the overnight high near 0.7770 (a sustained move above this level appears unlikely at this stage).”