AUD/USD Focus Remains on 0.7725/50 – UOB
The research team at UOB Group noted the relevance of the 0.7725/50 band in AUD/USD.
Key Quotes
“AUD
touched a low of 0.7490 late last week and the subsequent up-move from
the bottom has been more rapid and resilient than expected”.
“While
short-term upward momentum has improved considerably, only a clear
break above the strong 0.7725/50 resistance zone would indicate the
resumption of the bullish trend”.
“In the meanwhile, this pair is
expected remain underpinned and the upward pressure will continue to
increase unless there is a move back below 0.7580/85 in the next 1 to 2
days”.
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