The risk of Australian dollar (AUD) is in the minus of the US dollar (USD), but any decline may not break the main support at 0.6280. In the longer course, the audience may be lower, but it must clearly crack below 0.6280, before you can expect removal to 0.6255, FX Group Analysts Quek Ser Leang and Peter Chia Note.
The audience has a chance to lower
24-hour view: “We did not expect yesterday the audience will fall to the lowest level of 0.6296 (we expected range trading). Although the rush growing down indicates the risk of decline, any decrease may break the main support at 0.6280. To keep the momentum, the Aud cannot exceed 0.6350 (small resistance is 0.6330). “
1-3 weeks View: “Two days ago (February 25, place at 0.6345), we have revised our AUDE view from positive to negative, which indicates that the recent” rush up to a immense extent faded “and audience” will probably consolidate from 0.6280 to 0.6410. Yesterday it fell to 0.6296, closing at 0.60% to 0.6305.
