The selling pressure around AUD/USD is seen alleviated above the 0.5950 level, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “While we expected AUD to weaken, we did not anticipate the sudden burst in volatility as AUD sliced through several strong support levels and closed lower by a whopping -3.87% (0.5771). There is no sign the current rout in AUD is about to end soon. Only a move above 0.5950 would indicate the current weakness has stabilized.” Next 1-3 weeks: “The 0.5850 level indicated yesterday (18 Mar, spot at 0.5995) is but just a distant memory as AUD crashed to 0.5700. We have highlighted the ‘lack of support levels note’ support last Friday (13 Mar) and from here, there is a support (albeit a minor one) at 0.5230. Below that, is the record low of 0.4775 (Apr 2001). On the upside, the ‘strong resistance’ is at 0.6000 now (from yesterday’s level of 0.6180.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Coronavirus: Unavoidable cost of the downturn will have to be socialised – Standard Chartered FX Street 2 years The selling pressure around AUD/USD is seen alleviated above the 0.5950 level, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “While we expected AUD to weaken, we did not anticipate the sudden burst in volatility as AUD sliced through several strong support levels and closed lower by a whopping -3.87% (0.5771). There is no sign the current rout in AUD is about to end soon. Only a move above 0.5950 would indicate the current weakness has stabilized.” Next 1-3 weeks: “The 0.5850 level indicated yesterday (18 Mar, spot at 0.5995) is but just a distant memory as AUD… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
