AUD/USD is seen advancing further and could re-test the 0.7785 level in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected AUD to ‘strengthen further’ yesterday. We highlighted that ‘the major resistance at 0.7785 is likely out of reach and that 0.7760 is already quite a strong level’. Our view was not wrong as the advance in AUD stalled at 0.7761. While conditions remain overbought and momentum is beginning to wane, there is scope for AUD to make another push higher towards 0.7785. For today, a clear break of this level is unlikely. On the downside, a break of 0.7715 would indicate that the current upward pressure has eased.” Next 1-3 weeks: “We continue to hold the same view from yesterday (15 Apr, spot at 0.7730). As highlighted, ‘risk is for a higher AUD towards 0.7785’. Shorter-term overbought conditions suggest that AUD may struggle to break 0.7785 within these few days. Looking ahead, the next resistance is at 0.7820. A break of 0.7670 (‘strong support’ level was at 0.7645 yesterday) would indicate that the upside risk 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 Gold Price Analysis: XAU/USD eyes additional upside as technical setup screams buy FX Street 2 years AUD/USD is seen advancing further and could re-test the 0.7785 level in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: "We expected AUD to 'strengthen further' yesterday. We highlighted that 'the major resistance at 0.7785 is likely out of reach and that 0.7760 is already quite a strong level'. Our view was not wrong as the advance in AUD stalled at 0.7761. While conditions remain overbought and momentum is beginning to wane, there is scope for AUD to make another push higher towards 0.7785. For today, a clear break of this level is unlikely. On… 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.
