AUD/USD top in place? – UOB

According to the research team at UOB Group, the Aussie dollar could have carved an interim top above the 0.7700 handle.

Key Quotes

“The break below our 0.7550 stop-loss indicates that we have seen a short-term top at 0.7723 last week (our target at 0.7740 was not met)”.

“The current pull-back appears to have scope to extend lower to test the recent low at 0.7475/80”.

“Overall, this pair is expected to remain under pressure from here unless it can reclaim 0.7635 in the next 1 to 2 days”.