Possibility that the Australian dollar (aud) rises above 0.6310; It remains to be seen if you can maintain a position above this level. In the long term, Momentum accumulation is fading; A rupture below 0.6230 would mean that the AU will probably be traded in a range, the FX analysts of UOB Group, to be Leang and Peter Chia.
Below 0.6230, the AU will probably trade in a range
24 -hour view: “Although we expected the Aud ‘to trade with a bearish bias yesterday, we point out that,’ given the slight bearish momentum, any fall is limited to a 0.6230 test. ‘ Our expectation was not met, since the Aud traded in a range of 0.6262/0.6302, closing at 0.6295 (+0.28%). Upper 0.6310, but it remains to be seen if you can maintain a position above this level. has decreased. ”
View of 1-3 weeks: “Last Thursday (February 6, par at 0.6280), we indicate that ‘If the AU closes above 0.6310, it could trigger an advance to 0.6355.’ The AUD did not advance up, and yesterday (February 11, torque at 0.6270), we highlight that the recent ‘accumulation of Momentum is fading, and if the Aud breaks below 0.6230 (level of’ Strong Support ‘), it would mean that the AU will probably trade in a range. ‘ Although the short -term momentum has increased a bit, the AU must break and stay above 0.6310 before a greater progress can be expected. In the ‘strong support’) it is not broken. “
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.
