Instead of continuing to climb, the AUD is more likely to be negotiated in a range of 0.6260/0.6360. In the long term, the AU must break and stay above the significant resistance at 0.6410 before more progress can be expected, the FX analysts of UOB Group, to be Leang and Peter Chia.
AUD/USD will advance beyond 0.6410
24 -hour vision: “The audience fluctuated in a wide range on Wednesday. Yesterday (Thursday), we had the opinion that the AUD ‘could continue negotiating erratically, probably between 0.6220 and 0.6320.’ Then, the Aud fell to 0.6226 before firing at 0.6390, going back to 0.6329
(+0.46%). The setback in overcompra conditions suggests that instead of continuing to rise, the Aud is more likely to be negotiated in a range of 0.6260/0.6360. “
Vision 1-3 weeks: “Yesterday (April 3, Spot at 0.6265), we highlight that ‘recent sudden but short movements have resulted in a mixed perspective.’ We add, ‘At the moment, the audience could be negotiated in a range of 0.6185/0.6340.’ While the audience subsequently broke over 0.6340, after recent
Erratic price movements, the increase in impulse is not enough to indicate a sustained increase. The AU must break and stay above the significant resistance at 0.6410 before more progress can be expected. The probability that the audience breaks this resistance will remain intact, provided it is maintained above the level of ‘strong support’, currently at 0.6235. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
