AUD/USD: can the bears take out 0.7500? - UOB

Analysts at UOB Group noted that the AUD extended its decline yesterday and hit a fresh year-to-date low of 0.7577. 

Key Quotes:

"While the decline for the past few days appears to be running too fast, there is no sign of stabilization just yet."

 "At this stage, the odds for a sustained move below the 0.7550 level are not that high (the next support is at last December’s low of 0.7500)."

"On the upside, only a move back above the ‘key resistance’ at 0.7690 would indicate that the immediate downward pressure has eased."