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Trading news
21 Apr 2015
AUD/USD consolidation expected – UOB
FXStreet (Barcelona) - Analysts at UOB Group, note that the fall from 0.7845/50 is likely a part of broad consolidation stage and not a reversal.
Key Quotes
“The expected bullish AUD phase that started late last week ended abruptly when AUD broke below 0.7700 earlier this morning (on the back of dovish comments overnight by RBA’s Stevens).”
“The sharp drop from 0.7845/50 is likely part of a broad sideway consolidation range and not the start of a bearish reversal.”
“We hold a neutral view now and expect this pair to trade between 0.7570 and 0.7850 for the next 1 to 2 weeks.”
Key Quotes
“The expected bullish AUD phase that started late last week ended abruptly when AUD broke below 0.7700 earlier this morning (on the back of dovish comments overnight by RBA’s Stevens).”
“The sharp drop from 0.7845/50 is likely part of a broad sideway consolidation range and not the start of a bearish reversal.”
“We hold a neutral view now and expect this pair to trade between 0.7570 and 0.7850 for the next 1 to 2 weeks.”