A move beyond 0.7765 should mitigate downside pressure in AUD/USD, suggested FX Strategist at UOB Group. Key Quotes 24-hour view: “AUD traded between 0.7675 and 0.7726 before closing slightly higher at 0.7696 (+0.15%). Momentum indicators are mostly neutral and AUD could continue to trade sideways. Expected range for today, 0.7680/0.7735.” Next 1-3 weeks: “We indicated on Monday (18 Jan, spot at 0.7695) that ‘downward pressure is beginning to build but AUD has to break 0.7640 before a deeper pullback can be expected’. We added, ‘the prospect for a break of 0.7640 is not high for now but would remain intact as long as the ‘strong resistance’ at 0.7765 is not breached’. AUD subsequently dropped to 0.7659 before recovering slightly. While downward pressure has eased somewhat, only a break of 0.7765 would indicate the downside risk in AUD has dissipated.” 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 Natural Gas Futures: Extra downside on the cards FX Street 2 years A move beyond 0.7765 should mitigate downside pressure in AUD/USD, suggested FX Strategist at UOB Group. Key Quotes 24-hour view: “AUD traded between 0.7675 and 0.7726 before closing slightly higher at 0.7696 (+0.15%). Momentum indicators are mostly neutral and AUD could continue to trade sideways. Expected range for today, 0.7680/0.7735.” Next 1-3 weeks: “We indicated on Monday (18 Jan, spot at 0.7695) that ‘downward pressure is beginning to build but AUD has to break 0.7640 before a deeper pullback can be expected’. We added, ‘the prospect for a break of 0.7640 is not high for now but would remain intact… 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.
