The Australian Dollar (AUD) is likely to trade sideways between 0.6630 and 0.6685.
The Australian Dollar is likely to trade sideways between 0.6630 and 0.6685. AUD is likely to edge higher; the likelihood of it breaking clearly above the major resistance zone of 0.6705/0.67816 is low for now. Major resistance zone exists at 0.6705/0.6715 24-HOUR VIEW: “We expected AUD to trade in a 0.6625/0.6675 range last Friday. However, after dipping to a low of 0.6620, AUD rose sharply, reaching a high of 0.6685. AUD closed on a firm note at 0.6670 .
6630 and 0.6685.” 1-3 WEEKS VIEW: “In our most recent narrative from last Monday , we were of the view that 'the current price action is likely part of a range-trading phase,' and we expected AUD to trade between 0.6600 and 0.6685. AUD traded within the range until last Friday, when it rose, touching 0.6685. There has been a slight increase in upward momentum, but not enough to suggest the start of a sustained advance. From here, as long as AUD remains above 0.
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