AUD/USD bullish above 0.7675 – UOB

The research team at UOB Group sees AUD/USD’s outlook shifting to bullish on a close above 0.7675.

Key Quotes

“AUD traded sideways as expected, albeit at a higher range than anticipated. While the undertone has turned positive, any up-move is unlikely to have enough strength to move clear beyond last week’s peak at 0.7675”.

“As highlighted last Friday, the undertone for AUD is positive but only a clear break above 0.7675 would indicate the start of a bullish phase. For now, as long as 0.7560 is intact, the prospect of a move above 0.7675 still appears to be quite good”.