A rupture of 0.6370 would mean that the current price movements are part of a negotiation phase in range, the FX analysts of UOB Group, to be Leang and Peter Chia.
To continue climbing, the AU must break and stay above 0.6515
24 -hour vision: “When the AU was at 0.6405 last Friday, we expected that ‘negotiated between 0.6380 and 0.6445.’ The Aud then negotiated within a narrower range of 0.6388/0.6436, largely closing without changes (0.6404, -0.02%).
Vision at 1-3 weeks: “Last Wednesday (May 14, Spot in 0.6470), we indicate that ‘to continue climbing, the audience must break and stay above 0.6515.’ After the AD backed up, we indicated last Friday (May 16, Spot in 0.6405) that ‘a rupture of 0.6370 would mean that current price movements are probably part of a negotiation phase in the range.’ While the bullish impulse continues to slow down, we maintain our vision for now. “
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.
