AUD/USD door open to 0.8850 – UOB Group

FXStreet (Edinburgh) - Quek Ser Leang, Market Strategist at UOB Group, believes the pair could attempt another leg towards the mid-0.8800s.

Key Quotes

“While we anticipated further AUD weakness, the down-move exceeded the 0.8890 target by a wide margin with a low of 0.8851”.

“Despite oversold conditions, there is no sign of stabilization just yet”.

“Expect any recovery to hold below 0.8920 for another attempt towards the 0.8850”.