A snippet on the Australian dollar via UOB, analysts here assessing the AUD has likely found a base.
In summary:
- previous commentary that a 'sustained push below 0.6800 could shift focus to 0.6715'
- Since then AUD down to lows under 0.6680
- the recovery that followed suggests the last of AUD bulls may have capitulated
- Directional indicators are gradually turning higher
- From here … It has to break the 0.6845 'key resistance' in order to indicate that a mid-term low is in place at 0.6678. On the downside, we expect supports at 0.6715 and 0.6680."
