FXStreet – The market analysts of the Japanese UOB Group compared to the Australian Dollar bearish. In the short term, a Test of the psychologically important mark in 0,7300, however, is unlikely.
During the downward trend, which last Thursday began, is still intact, the combination of a slowing of momentum and oversold market conditions, Downward continuation of the bearish impulse will be to 0,7300 unlikely. We had some profit taking in the run-up to profit in 0,7335/40 is recommended.
A preliminary soil formation would be confirmed only with a jump on 0,7420. Until then, a new Abwärtsimplus can not be excluded on 0,7300, even if the chances of that are quite low.
** FXStreet News Editorial, FXStreet**