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29 Jul 2015
AUD/USD: Bears until 0.7370 - UOB
FXStreet (Guatemala) - Analysts at UOB Group have a bearish outlook for <a href="http://www.fxstreet.com/analysis/technical-analysis-forex/">AUD/USD over the next few weeks.
Key Quotes:
"Oversold conditions suggest a slow and grinding down-move from here."
"There is no change to the current bearish AUD view. However, patchy downward and oversold conditions suggest that any down-move will likely be slow and grinding from here."
"We have moved the stop-loss lower to 0.7370 from 0.7410 with an unchanged target of 0.7230. The next strong support below 0.7230 is just 30 pips lower at 0.7200."
Key Quotes:
"Oversold conditions suggest a slow and grinding down-move from here."
"There is no change to the current bearish AUD view. However, patchy downward and oversold conditions suggest that any down-move will likely be slow and grinding from here."
"We have moved the stop-loss lower to 0.7370 from 0.7410 with an unchanged target of 0.7230. The next strong support below 0.7230 is just 30 pips lower at 0.7200."