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Oct 23 - 11:00 AM
AUD/USD: Risk Has Shifted To The Upside; Focus Is At 0.6895 - UOB
First appeared on eFXplus on Oct 23 - 08:37 AM

UOB Research discusses AUD/USD technical outlook and flags a scope for further upside in the near-term.

"AUD didn’t do much yesterday as it eked out a fresh high of 0.6883 before slipping to close slightly lower at 0.6856 (-0.16%). For now, there is no change to our view from last Friday (18 Oct, spot at 0.6825) wherein the risk is for a higher AUD towards 0.6895," UOB notes. 

"Only a break of 0.6815 (‘strong support’ level was previously at 0.6800) would indicate that our view for a stronger AUD is wrong. Looking ahead, if AUD were to break clearly above 0.6895, the next level to focus on is at 0.6930," UOB adds. 

Source:
UOB Research/Market Commentary

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