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- AUD/USD: A break below 0.7300 remains on the cards – UOB
AUD/USD: A break below 0.7300 remains on the cards – UOB
FXStreet reports that FX Strategists at UOB Group said that AUD/USD could breach the key 0.7300 mark in the next weeks.
Next 1-3 weeks: “AUD fell to an 8-month low yesterday as it tested the major support at 0.7300 (low has been 0.7300). While downward momentum remains strong, the sharp and rapid decline over the past few days are deeply oversold. That said, a break of 0.7300 is not ruled out but the pace of any further weakness is likely to be slower and 0.7270 is expected to offer solid support. On the upside, a breach of 0.7395 would indicate that the current weakness in AUD has run its course.”
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