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26 Feb 2015
AUD/USD short-term positive, NZD/USD limited downside risk – UOB Group
FXStreet (Barcelona) - Analysts at UOB Group, note the technical outlook for the antipodeans is neutral, with 0.7810 support key for AUD/USD and 0.7500 limiting the downside for NZD/USD.
Key Quotes
“AUD/USD: As indicated in yesterday’s update; despite improving short-term upward momentum, only a clear break above the key resistance at 0.7920 would suggest the start of a sustained AUD up-move.”
“Otherwise, the outlook for this pair is still viewed as neutral within a 0.7740/0.7920 range.”
“That said, short-term undertone is clearly positive with strong support at 0.7810 ahead of the key level at 0.7740.”
“NZD/USD: While the short-term outlook for NZD has improved considerably, only a move above the key level at 0.7600 would indicate the start of a sustained rally.”
“Until then, we prefer to hold a neutral view for now and expect this pair to range trade between 0.7450 and 0.7600 for at least several days more.”
“However, positive short-term undertone suggests limited downward risk for now with strong support at 0.7500 ahead of 0.7450.”
Key Quotes
“AUD/USD: As indicated in yesterday’s update; despite improving short-term upward momentum, only a clear break above the key resistance at 0.7920 would suggest the start of a sustained AUD up-move.”
“Otherwise, the outlook for this pair is still viewed as neutral within a 0.7740/0.7920 range.”
“That said, short-term undertone is clearly positive with strong support at 0.7810 ahead of the key level at 0.7740.”
“NZD/USD: While the short-term outlook for NZD has improved considerably, only a move above the key level at 0.7600 would indicate the start of a sustained rally.”
“Until then, we prefer to hold a neutral view for now and expect this pair to range trade between 0.7450 and 0.7600 for at least several days more.”
“However, positive short-term undertone suggests limited downward risk for now with strong support at 0.7500 ahead of 0.7450.”