UOB analysts shift to a neutral stance on AUD/USD, projecting consolidation between 0.6970 and 0.7040 as the pair recovers from recent intraday volatility driven by improved risk appetite.
AUD/USD briefly dipped to 0.6954 then rebounded strongly to 0.7022 as risk appetite improved and the US Dollar softened. UOB calls the intraday move overdone and expects a 0.6985–0.7025 range, shifting to a neutral one-to-three-week view with consolidation between 0.6970 and 0.7040 after the prior downside break failed.
UOB expects an intraday range of 0.6985–0.7025 and a one-to-three-week consolidation range of 0.6970–0.7040.
AUD/USD dipped to 0.6954 before rebounding to 0.7022 as risk appetite improved and the US Dollar softened.
The Australian Dollar enters a neutral phase against the US Dollar following a sharp rebound from lows of 0.6954. Analysts at UOB expect the pair to consolidate within a 0.6970 to 0.7040 range over the next one to three weeks after a failed downside break.
UOB expects an intraday range of 0.6985–0.7025 and a one-to-three-week consolidation range of 0.6970–0.7040.
AUD/USD dipped to 0.6954 before rebounding to 0.7022 as risk appetite improved and the US Dollar softened.