AUD/USD bullish above 0.7750 – UOB

According to the research team at UOB Group, the outlook for the Aussie dollar could shift to bullish once 0.7750 is cleared.

Key Quotes

“While upward momentum continues to improve, we prefer to wait for a clear break above the major 0.7750 resistance before turning bullish”.

“That said, this appears to be likely scenario unless there is move back below 0.7580/85 (0.7635 is already a strong support)”.