AUD/USD now targets 0.7700 and above – UOB

FX Strategists at UOB Group see the Aussie Dollar advancing above the 0.7700 handle in the next weeks.

Key Quotes

“As noted, the recent consolidation phase is expected to be resolved with an upside break but only a clear break above the major 0.7630 resistance would indicate that AUD has re-entered a bullish phase”.

“The high has been 0.7631 as of the time of writing and from here, a daily closing above 0.7630 would indicate that a move towards 0.7700 (weekly trend-line resistance) has started”.