As long as the US Dollar (USD) remains above 159.30, it could rise above 160.00, potentially reaching another resistance level at 160.25, UOB Group analysts note.
As long as the US Dollar remains above 159.30, it could rise above 160.00, potentially reaching another resistance level at 160.25, UOB Group analysts note. A break below 158.80 to indicate more downside 24-HOUR VIEW: “After AUD soared last Thursday, we indicated on Friday that ‘strong momentum suggests further USD strength.’ We also indicated that ‘given that conditions are overbought, the major resistance at 159.50 is likely out of reach for now.
Today, as long as USD remains above 159.30 , it could rise above 160.00, potentially reaching 160.25. 1-3 WEEKS VIEW: “We have held a positive USD view since early last week . Last Friday , we noted that ‘upward momentum has increased, and USD could continue to advance to 159.50, with a lower probability of it reaching 160.00.’ While our view was not wrong, we did not quite expect USD to break above 159.50 and approach 160.00 as quickly . From here, USD could break above 160.
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