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17 Apr 2015
AUD/USD might extend towards 0.7840 – UOB
FXStreet (Barcelona) - Analysts at UOB Group, expect AUD/USD’s upward momentum to extend towards 0.7840 levels.
Key Quotes
“The target indicated at 0.7740 yesterday was exceeded with an overnight high of 0.7823. Despite being overbought, the up-move appears to have enough momentum to extend towards 0.7840.”
“That said, a clear break above this level is not expected, at least not for today. Only a move back below 0.7730 would indicate that a temporary top is in place.”
Key Quotes
“The target indicated at 0.7740 yesterday was exceeded with an overnight high of 0.7823. Despite being overbought, the up-move appears to have enough momentum to extend towards 0.7840.”
“That said, a clear break above this level is not expected, at least not for today. Only a move back below 0.7730 would indicate that a temporary top is in place.”