FXStreet (Edinburgh) – In the opinion of analysts at UOB Grop Emmanuel Ng, further pullbacks in AUD/USD appear to be capped around the 0.7700 support.
Key Quotes
“Instead of trading sideways, AUD broke below the 0.7795 support to touch a low of 0.7728”.
“The down-move appears incomplete and further AUD weakness is expected for today”.
“Expect any rebound to hold below 0.7790 but the downside potential is likely limited to 0.7700”.
(Market News Provided by FXstreet)