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23 Sep 2014
AUD/USD door open to 0.8850 – UOB Group
FXStreet (Edinburgh) - Quek Ser Leang, Market Strategist at UOB Group, believes the pair could attempt another leg towards the mid-0.8800s.
Key Quotes
“While we anticipated further AUD weakness, the down-move exceeded the 0.8890 target by a wide margin with a low of 0.8851”.
“Despite oversold conditions, there is no sign of stabilization just yet”.
“Expect any recovery to hold below 0.8920 for another attempt towards the 0.8850”.
Key Quotes
“While we anticipated further AUD weakness, the down-move exceeded the 0.8890 target by a wide margin with a low of 0.8851”.
“Despite oversold conditions, there is no sign of stabilization just yet”.
“Expect any recovery to hold below 0.8920 for another attempt towards the 0.8850”.