5 Feb 2014
Flash: AUD/USD yet to top - UOB Group
FXStreet (Barcelona) - The Market Strategy Team at UOB Group notes that there is no sign of an AUD/USD top just yet.
Key Quotes
"0.8920: Less than dovish RBA statement led to a surge to a 3-week high of 0.8942. Despite overbought conditions, there is no sign of a top just yet.”
“Expect a move towards 0.8960 before a deeper pullback can be expected. Only a move below 0.8850 will indicate that a temporary top is in place."
Key Quotes
"0.8920: Less than dovish RBA statement led to a surge to a 3-week high of 0.8942. Despite overbought conditions, there is no sign of a top just yet.”
“Expect a move towards 0.8960 before a deeper pullback can be expected. Only a move below 0.8850 will indicate that a temporary top is in place."