Saturday, January 11

AUD is most likely to continue to increase towards 0.6955– UOB Group

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(AUD) is most likely to continue to ; 0.6955 is most likely out of in the meantime. for AUD stays favorable, and it might advance even more to 0.6955, UOB FX strategists Quek Ser Leang and Chia note.

The is at 0.6955

24- : “Our view for AUD to sideways the other was inaccurate. Rather of sideways, AUD skyrocketed to 0.6894, and it continues to increase in early trade . Having actually breached the 0.6900, AUD is most likely to continue to increase, although 0.6955 is most likely out of reach in the meantime (there is another level at 0.6930). In to the going, AUD needs to stay above 0.6850 (small is at 0.6870).”

1-3 WEEKS VIEW: “ have actually held favorable AUD view given that early recently. In our from last (20 Sep, at 0.6800), we highlighted that “while there is still for AUD to continue to increase, it might not have adequate momentum to challenge to substantial resistance at 0.6870.” The other day, AUD removed and broke above 0.6870. Today, it increased above another considerable at 0.6900. The of the resistance is accompanied by strong upward momentum, and we stay favorable in AUD, preparing for an additional advance to 0.6955. The favorable outlook is undamaged as long as 0.6820 (‘strong assistance' level was at 0.6770 the other day) is not breached.”

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