31 Mar 2016
AUD/USD upside appears capped above 0.77 – UOB
According to the research team at UOB Group, the pair’s upside could striggle around 0.7740.
Key Quotes
“While the break above the month’s high of 0.7680 suggests further AUD strength is likely in the days ahead, the internal momentum is not as impulsive as we would like and the upside potential appears to be limited to 0.7740”.
“In order to maintain the current momentum, any pull-back should be limited and a break below 0.7550 is enough to indicate that our bullish expectation for AUD is wrong”.
Key Quotes
“While the break above the month’s high of 0.7680 suggests further AUD strength is likely in the days ahead, the internal momentum is not as impulsive as we would like and the upside potential appears to be limited to 0.7740”.
“In order to maintain the current momentum, any pull-back should be limited and a break below 0.7550 is enough to indicate that our bullish expectation for AUD is wrong”.