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5 Dec 2014
AUD/USD to head towards 0.8300 – UOB
FXStreet (Barcelona) - The UOB Group Research Team anticipates the AUD/USD pair to target 0.8300 levels by next week, keeping their bearish outlook on the pair intact.
Key Quotes
“The low of 0.8356 yesterday held just above the 0.8340 target. Despite waning short-term momentum, the outlook for this pair is still bearish and we continue to expect a move towards 0.8340 and possibly 0.8300 by next week. Trailing-stop for the bearish view has moved lower to 0.8475 from 0.8550.“
Key Quotes
“The low of 0.8356 yesterday held just above the 0.8340 target. Despite waning short-term momentum, the outlook for this pair is still bearish and we continue to expect a move towards 0.8340 and possibly 0.8300 by next week. Trailing-stop for the bearish view has moved lower to 0.8475 from 0.8550.“