AUD/USD faces further consolidation near term – UOB – by pabspiovano AUDUSD Currencies Majors Banks
is still seen navigating the 0.6620-0.6785 range in the near term.24-hour view: “Last Friday, we highlighted that AUD could continue to advance. We added, ‘severely overbought conditions suggest that AUD might not be able to break clearly above 0.6820 today’. While AUD rose to a high of 0.6808, it plunged to a low of 0.6595 in NY trade. The outsized decline appears to be overdone but there is scope for the weakness in AUD to extend to 0.6675 before stabilization is likely.
. For the time being, there is no clear direction and AUD could trade in a relatively broad range of 0.6620/0.6785.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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