26 Mar 2014
AUD to rally to 0.9260? - UOB Group
FXStreet (Barcelona) - The Market Strategy Team at UOB Group believe that AUD/USD could potentially rally to 0.9255/60.
Key Quotes
“The critical mid-term resistant highlighted previously at 0.9165/70 was marginally breached with an overnight high of 0.9174.”
“Upward momentum remains strong and we expect the current rally to extend towards 0.9255/60 within the next couple of weeks. Overbought short-term condition may result in a pullback but as long as the key support at 0.9040 is not taken out, further AUD gains appear likely.”
Key Quotes
“The critical mid-term resistant highlighted previously at 0.9165/70 was marginally breached with an overnight high of 0.9174.”
“Upward momentum remains strong and we expect the current rally to extend towards 0.9255/60 within the next couple of weeks. Overbought short-term condition may result in a pullback but as long as the key support at 0.9040 is not taken out, further AUD gains appear likely.”