30 Mar 2016
AUD/USD still neutral near-term – UOB
The outlook for the Aussie dollar remains on the neutral side vs. the US dollar in the next 1-3 weeks, according to the research team at UOB Group.
Key Quotes
“Despite the strong overnight rally, there is no change to our current neutral view on AUD”.
“However, a move above the top end of our expected 0.7450/0.7650 range would not be surprising but at this stage, the current rally does not appear to have enough impetus to move significantly above the month’s high at 0.7680”.
“That said, shorter-term indicators are constructive and this pair is expected to remain supported in the coming days. Support is at 0.7560 but the key level is at 0.7510”.
Key Quotes
“Despite the strong overnight rally, there is no change to our current neutral view on AUD”.
“However, a move above the top end of our expected 0.7450/0.7650 range would not be surprising but at this stage, the current rally does not appear to have enough impetus to move significantly above the month’s high at 0.7680”.
“That said, shorter-term indicators are constructive and this pair is expected to remain supported in the coming days. Support is at 0.7560 but the key level is at 0.7510”.