AUD/USD remains bearish, could test 0.7440 – UOB

There is scope for AUD/USD to slip back to the 0.7440 area in the near-term, suggested strategists at UOB Group.

Key Quotes

“There is no change to the current bearish AUD view with a target of 0.7440/45. As highlighted yesterday, oversold short-term conditions could lead to a couple of days of consolidation first”.

“Only a move back above 0.7630 (adjusted from 0.7660) would indicate that a temporary low is in place”.

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