FXStreet – According to the FX strategists of the Japanese UOB Group changed the perspective in the Australian Dollar from bearish to neutral.
While the anticipated AUD strength of our expectation had been exceeded, after the currency pair the psychological mark of 0,7400 skipped, resulted in the rapid sell-off of the highs at 0,7420 in a mixed Outlook. The risks are thus on the underside, but the support at 0,7360 should provide sufficient Support. The next big stop line is 0,7330.
The Australian Dollar last Friday exceeded our Trailing Stop Loss for our bullish scenario, in 0,7420. The downward trend, which will be held on 04. May (Spot 0,7430) began, is now complete and the Aussie is likely to move sideways between 0,7330 and 0,7445.
** FXStreet News Editorial, FXStreet**