AUD/USD: bearish but not that bearish - UOB

FXStreet (Guatemala) - Analysts at UOB Group explained that the AUD/USD is looking bearish.

Key Quotes:

"Diminishing odds for a move to the 0.6895 target. AUD edged below last week’s low to touch 0.6934 yesterday before rebounding sharply.

While the outlook for this pair is still viewed as bearish as long as the stoploss at 0.7055 is intact, waning downward momentum suggests the odds for another leg lower to target at 0.6895 has diminished."