Market news
28.07.2022, 06:33

AUD/USD: Rising bets for a move to 0.7040 – UOB

In light of the recent price action, AUD/USD could now revisit the 0.7040 region in the next weeks, comment FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.

Key Quotes

24-hour view: “The strong surge in AUD to 0.7012 during NY session appears to be overdone and AUD is unlikely to strengthen much further. For today, AUD is more likely to trade between 0.6965 and 0.7020.”

Next 1-3 weeks: “Despite the relatively strong advance in AUD yesterday, upward momentum has not improved by much. That said, there is scope for AUD to advance further to 0.7040. At this stage, the odds for AUD to rise to the next resistance at 0.7070 are not high. On the downside, a breach of 0.6935 (‘strong support’ level) would indicate that the current upward pressure has eased.”

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location