Further upside to the 0.7800 area in AUD/USD is now likely, according to FX Strategists at UOB Group. Key Quotes 24-hoour view: “Yesterday, we held the view that AUD is likely to ‘trade sideways between 0.7640 and 0.7720’. However, AUD surged to 0.7778 before closing on a strong note at 0.7760. Further AUD strength appears likely but overbought conditions suggest that a sustained rise beyond 0.7800 is unlikely. Support is at 0.7730 followed by 0.7700.” Next 1-3 weeks: “We highlighted yesterday (05 Jan, spot at 0.7670) that we continue to hold same view wherein ‘there is room for AUD to advance but the major resistance at 0.7760 is unlikely to come into the picture so soon’. However, we did not quite anticipate the sudden surge in AUD that sent it to a high of 0.7778. Upward momentum has improved considerably and the next level to focus on is at 0.7800 followed by 0.7840. Overall, the current positive phase in AUD is deemed as intact as long as AUD does not move below 0.7670 (‘strong support’ level was at 0.7630 yesterday).” 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 Georgia Elections: Both Democratic candiates lead, Warnock projected winner by NBC, USD falls FX Street 1 year Further upside to the 0.7800 area in AUD/USD is now likely, according to FX Strategists at UOB Group. Key Quotes 24-hoour view: “Yesterday, we held the view that AUD is likely to ‘trade sideways between 0.7640 and 0.7720’. However, AUD surged to 0.7778 before closing on a strong note at 0.7760. Further AUD strength appears likely but overbought conditions suggest that a sustained rise beyond 0.7800 is unlikely. Support is at 0.7730 followed by 0.7700.” Next 1-3 weeks: “We highlighted yesterday (05 Jan, spot at 0.7670) that we continue to hold same view wherein ‘there is room for AUD to… 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.