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AUD/USD to continue drifting lower - UOB Group

FXStreet (Łódź) - The Market Strategy Team at UOB Group suggest that the decline in AUD/USD should slowly continue.

Key Quotes

"Oversold short-term conditions coupled with patchy downward momentum suggest a slow drift lower from here."

"0.8520 is a strong support and only a break below this level will lead the way for further AUD weakness towards 0.8420."

"Short-term rebound is expected to face stiff resistant at 0.8630 but only a clear break above 0.8710 would indicate that a mid-term low is in place."

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