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15 May 2015
AUD/USD losing bullish momentum – UOB
FXStreet (Barcelona) - Analysts at UOB Group believe that the AUD/USD drop from 0.8164 has questioned their bullish view and a break below 0.8020 might shift focus to the downside.
Key Quotes
“AUD surged to a high of 0.8164 but the subsequent sharp drop from the high has clearly dented the upward momentum.”
“A break below 0.8020 is enough to indicate that our bullish AUD view is wrong.”
“Short-term pressure is still on the downside and only a break back above 0.8105 would suggest that the downward pressure has eased.”
Key Quotes
“AUD surged to a high of 0.8164 but the subsequent sharp drop from the high has clearly dented the upward momentum.”
“A break below 0.8020 is enough to indicate that our bullish AUD view is wrong.”
“Short-term pressure is still on the downside and only a break back above 0.8105 would suggest that the downward pressure has eased.”