FXstreet.com (Barcelona) – The Market Strategy Team at UOB Group note that the expected AUD/USD weakness reached a low of 0.9144 before rebounding.
“While the bigger picture still suggests further weakness in the days ahead, oversold short-term conditions will likely lead to a recovery today.”
“Having said that, any rebound will likely be limited to the resistant at 0.9215/20. On the downside, even a break below last Friday’s low at 0.9144 will likely find the next support at 0.9115/20 difficult to break.”
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