AUD/USD: a bullish phase kicked in? – UOB

In view of the research team at UOB Group, the recent close above 0.7250 could have sparked a bullish turn.

Key Quotes

“As mentioned yesterday, a daily closing above 0.7250 would indicate the start of a bullish phase in AUD”.

“The target is at 0.7385, the high seen in early December. Stop-loss is at 0.7165 even though 0.7200 is already a very strong support”.