25 Feb 2016
AUD/USD a stab above 0.7300 still on the cards – UOB
In view of the research team at UOB Group, the Aussie dollar could still attempt a visit of the 0.7320/25 area.
Key Quotes
“While the pullback from the recent high of 0.7259 has been deeper than expected, the stop-loss for our bullish AUD view is still intact at 0.7130”.
“As long as this level is not taken out, we continue to expect a move to 0.7325/30 even though 0.7259 is acting as a very strong resistance now and this level will not be easy to crack”.
Key Quotes
“While the pullback from the recent high of 0.7259 has been deeper than expected, the stop-loss for our bullish AUD view is still intact at 0.7130”.
“As long as this level is not taken out, we continue to expect a move to 0.7325/30 even though 0.7259 is acting as a very strong resistance now and this level will not be easy to crack”.