Bullish target on AUD/USD from UOB.

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UOB analysts provided tech targets for several major currency pairs. According to the report published yesterday, UOB is bullish on AUD/USD, stating that the upside potential is limited to 0.7740.

“The sharp drop yesterday certainly does not bode well for our bullish AUD view. However, confirmation of a short-term top is only upon a break below 0.7550. That said, 0.7670 is acting as a very strong resistance from here and this level has to break before further AUD strength can be expected” written in the report.

AUD/USD was trading at 0.7545 as of 4:35 AM EDT, unchanged from the previous close.

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