The Australian Dollar (AUD) is expected to consolidate in a range of 0.6760/0.6810.
The Australian Dollar is expected to consolidate in a range of 0.6760/0.6810. In the longer run, there has been no further increase in momentum; if AUD breaks below 0.6730, it would mean that 0.6870 is not coming into view, UOB Group analysts Quek Ser Leang and Lee Sue Ann note. AUD can rise after a sustained breach of 0.6810 24-HOUR VIEW: “Yesterday, we detected ‘a slight increase in upward momentum.
6813, pulling back to close at 0.6785 . AUD has likely entered a consolidation phase. Today, we expect AUD to trade in a range of 0.6760/0.6810.” 1-3 WEEKS VIEW: “Our most recent narrative was from Monday , wherein ‘while the outsized advance from last Friday suggests further AUD strength, given the overbought conditions, it remains to be seen if 0.6870 is within reach in the next 1 to 2 weeks.’ Yesterday, AUD rose to 0.6813, then pulled back.
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