AUD/USD still targets 0.7600 – UOB

The Aussie dollar keeps its constructive stance, still targeting the 0.7600 according to the research team at UOB Group.

Key Quotes

“The anticipated AUD strength exceeded our expectation by taking out the strong 0.7560 resistance to reach a high of 0.7574. The up-move appears incomplete and further extension to 0.7600 seems likely”.

“The break above 0.7560 last Friday bodes well for our bullish AUD view and we continue to target a move to 0.7600 followed by 0.7650. Stop-loss is adjusted higher to 0.7440 from 0.7410”.