Underlying tone is week for AUD – UOB

Analysts at UOB Group noted that the underlying tone for AUD remains weak.

Key Quotes:

"But as highlighted yesterday, only a daily closing below the rising trend-line support at 0.7510 would indicate the start of a bearish phase."

"This appears to be a likely scenario unless AUD can reclaim 0.7600 within these 1 to 2 days."

"The immediate target below 0.7510 is at the September’s low of 0.7445."

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