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AUD/SGD Upside risk towards October’s high of 1.1350 – UOB

FXStreet (Barcelona) - Research Analysts at UOB view the upside risk to be much greater for the AUD/SGD pair for the next 1-2 weeks.

Key Quotes

“AUD not only broke above the falling trend-line resistant but also the 1.1290 high seen earlier this month. With Daily MACD holding firmly in positive territory, further AUD strength can be expected towards 1.1350 (last month’s high) followed by 1.1400.”

“Overbought short-term indicators could lead to a pull-back towards 1.1210/20 but as long as the key support at 1.1150 is intact, the risk appears to be much greater on the upside for the next 1 to 2 weeks.”

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