A slight increase in momentum suggests that the Australian dollar (AUD) could try 0.6350 against the US dollar (YSD); The main support at 0.6330 is unlikely to be threatened. In the long term, the AU must break and stay below 0.6370 before a movement towards 0.6330 can be expected, the FX analysts of UOB Group, to be Leang and Peter Chia.
The AU must break below 0.6370 to move around 0.6330
24 -hour vision: “Yesterday, the Aud was negotiated between 0.6358 and 0.6461, closing in a smooth note in 0.6372. There has been a slight increase in the downward momentum. Today, we hope that the AU tests the support at 0.6350. The main support in 0.6330 is unlikely to be threatened. The resistance is in 0.6400, followed by 0.6420. “
Vision at 1-3 weeks: “We noticed a slight increase in the lower moving last Friday (May 9), when the audience was at 0.6400. We indicated that ‘the increase in momentum is not enough to suggest a sustained fall at the moment, and the AU must break and stay below 0.6370 before a movement towards 0.6330 can be expected.’ Yesterday, the audience fell to 0.6358 but closed above 0.6370 in 0.6372, lowering 0.62%. Clearly below 0.6370 has decreased.
Source: Fx Street
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