AUD view out of Singapore – has likely based

AUD view out of Singapore – has likely based Author: Eamonn Sheridan | Category: News

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A snippet on the Australian dollar via UOB, analysts here assessing the AUD has likely found a base.

In summary:

  • previous commentary that a 'sustained push below 0.6800 could shift focus to 0.6715'
  • Since then AUD down to lows under 0.6680
  • the recovery that followed suggests the last of AUD bulls may have capitulated
  • Directional indicators are gradually turning higher
  • From here … It has to break the 0.6845 'key resistance' in order to indicate that a mid-term low is in place at 0.6678. On the downside, we expect supports at 0.6715 and 0.6680."

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