In opinion of FX Strategists at UOB Group, AUD/USD’s upside is seen advancing to the 0.7785 level in the next weeks. Key Quotes 24-hour view: “We highlighted last Friday that ‘while conditions remain overbought and momentum is beginning to wane, there is scope for AUD to make another push higher towards 0.7785′. Our expectation did not materialize as AUD traded sideways between 0.7724 and 0.7760. Conditions remain overbought and momentum has waned further. That said, it is too early to expect a sustained pullback. For today, AUD is likely to trade within a lower range of 0.7700/0.7745.” 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 Ex-RBNZ Chief Economist Zollner: New Zealand needs less QE than previously thought FX Street 2 years In opinion of FX Strategists at UOB Group, AUD/USD's upside is seen advancing to the 0.7785 level in the next weeks. Key Quotes 24-hour view: "We highlighted last Friday that 'while conditions remain overbought and momentum is beginning to wane, there is scope for AUD to make another push higher towards 0.7785'. Our expectation did not materialize as AUD traded sideways between 0.7724 and 0.7760. Conditions remain overbought and momentum has waned further. That said, it is too early to expect a sustained pullback. For today, AUD is likely to trade within a lower range of 0.7700/0.7745." Next 1-3 weeks:… 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.
