AUD/USD bullish above 0.7710 – UOB

The research team at UOB Group suggested the perspective on AUD/USD could shift to bullish on a close above 0.7710.

Key Quotes

“The recovery in AUD is more resilient than expected and the current up-move is expected to extend higher towards the 0.7711 high seen last week. A move above this level could lead to acceleration to the next significant resistance at 0.7740. Support is at 0.7655 ahead of the stronger level at 0.7625”.

“AUD dipped to a low 0.7588 last Friday but has since recovered strongly. However, only a daily closing above the recent 0.7710 high would indicate that AUD has started on a sustained up-move”.