26 Jan 2015
AUD/USD upside capped around 0.7920 – UOB Group
FXStreet (Edinburgh) - Bullish attempts in AUD/USD could find tough resistance in the 0.7920 area, suggested strategists at UOB Group.
Key Quotes
“As highlighted last Friday, the break of 0.8033 suggests the start of a fresh mid-term bearish phase”.
“AUD held below the 0.8060 resistance and crashed to a low of 0.7881”.
“We saw further selling pressure early this morning and the current weakness could extend to 0.7810”.
“Expect any rebound to hold below 0.7920”.
Key Quotes
“As highlighted last Friday, the break of 0.8033 suggests the start of a fresh mid-term bearish phase”.
“AUD held below the 0.8060 resistance and crashed to a low of 0.7881”.
“We saw further selling pressure early this morning and the current weakness could extend to 0.7810”.
“Expect any rebound to hold below 0.7920”.