AUD/USD: Potential upside to 0.7390 – UOB By pabspiovano AUDUSD Currencies Majors Banks
24-hour view: “While we expected AUD to strengthen yesterday, we were of the view that ‘a sustained rise above 0.7315’ is unlikely. The subsequent advance exceeded our expectations by a wide margin as AUD soared to 0.7349. Deeply overbought conditions coupled with the rapid pullback from the high suggests that AUD is unlikely to strengthen much further. For today, AUD is more likely to trade sideways between 0.7280 and 0.7350.
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