Our best spreads and conditions
Learn more
Forex News
Back
Oct 12, 2015
AUD/USD: knocking on the door of 0.74 - UOB
FXStreet (Guatemala) - Analysts at UOB Group explained that the sentiment for AUD/USD is bullish.
Key Quotes:
"Target at 0.7320 exceeded, another leg higher to 0.7400 cannot be ruled out just yet. AUD easily exceeded the revised target at 0.7320 with a high of 0.7344."
"While the rally appears to be overextended, another leg higher to 0.7400 cannot be ruled out but the odds for such a move are not very high. We continue to move the stop-loss higher to 0.7230 from 0.7200. Longs may like to book some profit on approach to any approach to 0.7400."
Key Quotes:
"Target at 0.7320 exceeded, another leg higher to 0.7400 cannot be ruled out just yet. AUD easily exceeded the revised target at 0.7320 with a high of 0.7344."
"While the rally appears to be overextended, another leg higher to 0.7400 cannot be ruled out but the odds for such a move are not very high. We continue to move the stop-loss higher to 0.7230 from 0.7200. Longs may like to book some profit on approach to any approach to 0.7400."