UOB analysts forecast a short-term rise for AUD/USD toward 0.7070, provided the 0.6985 support level holds, despite a lingering long-term bearish trend targeting the July low of 0.6923.
UOB sees AUD/USD biased slightly higher intraday but capped in a range, with a positive 1-3 week view toward 0.7070 while longer-term EMA signal remains bearish targeting 0.6923.
United Overseas Bank analysts maintain a positive 1-3 week outlook for the Australian Dollar, projecting a move toward 0.7070. While intraday trading remains range-bound between 0.7010 and 0.7045, the pair faces long-term downward pressure with a bearish EMA signal targeting the 0.6923 level.
UOB analysts expect the pair to trade with a slight upward bias in the short term, remaining range-bound between 0.7010 and 0.7045.
The pair faces immediate resistance near 0.7045 and has strong support at 0.6985, with a longer-term target of 0.6923 if the bearish trend resumes.