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31 Jul 2014
AUD/USD: Weak outlook for today - OCBC
FXStreet (Bali) - The Market Strategy Team at UOB Group notes that the outlook for AUD remains weak and further downmove is still expected for today.
Key Quotes
"The break below the strong support at 0.9360 was unexpected and sent the AUD reeling to a low 0.9301. Despite the subsequent rebound, the outlook for AUD remains weak and further downmove is still expected for today. Allow for a recovery towards 0.9345 but as long as 0.9360/65 is intact, this should lead to another attempt to take out the support at 0.9300."
Key Quotes
"The break below the strong support at 0.9360 was unexpected and sent the AUD reeling to a low 0.9301. Despite the subsequent rebound, the outlook for AUD remains weak and further downmove is still expected for today. Allow for a recovery towards 0.9345 but as long as 0.9360/65 is intact, this should lead to another attempt to take out the support at 0.9300."