The research team at UOB Group sees the outlook for the Aussie dollar turning to bullish above 0.7260.
Key Quotes
“The strong rebound from the low of 0.7110 yesterday was unexpected and accompanied by strong momentum”.
“However, only a clear break (daily closing) above the major 0.7260 resistance would shift the outlook for AUD to bullish again (we turned neutral only 2 days ago)”.
“Overall, AUD is expected to remain supportive unless there is a move back below 0.7110 in the next 1 to 2 days”.
(Market News Provided by FXstreet)
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