UOB Group's FX analysts predict a lower trading range for AUD in the short term, likely between 0.6215 and 0.6265. However, the longer-term outlook suggests a range between 0.6180 and 0.6310.
Slight increase in downward momentum is likely to result in a lower trading range of 0.6215/0.6265. In the longer run, for the time being, AUD is expected to trade between 0.6180 and 0.6310, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note. AUD is likely to trade in a range for the time being24-HOUR VIEW: “After the choppy trading in AUD on Monday, we indicated yesterday that ‘the sharp but brief swings have resulted in a mixed outlook.
’ AUD then traded in a 0.6228/0.6288 range, closing lower by 0.25% at 0.6231. Although the price action has led to a slight increase in downward momentum, this is likely to result in a lower trading range of 0.6215/0.6265 instead of a sustained decline.”1-3 WEEKS VIEW: “We pointed out yesterday that AUD ‘may have found an interim bottom at 0.6179 last week.
AUD Forex Trading Range UOB Group Currency Forecast
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD: Below 0.6350 before further decline can be expectedAustralian Dollar (AUD) is expected to trade in a 0.6350/0.6410 range.
Read more »
AUD/USD: Likely to trade in a range between 0.6355 and 0.6415Australian Dollar (AUD) is likely to trade in a range between 0.6355 and 0.6415.
Read more »
AUD/USD: Current price movements are likely part of a consolidation phaseAustralian Dollar (AUD) is likely to trade in a range between 0.6400 and 0.6480.
Read more »
GBP/USD: Expected to trade in a sideways range of 1.2720/1.2785Pound Sterling (GBP) is expected to trade in a sideways range of 1.2720/1.2785.
Read more »
AUD/USD: Scope for AUD to retest 0.6375Sharp drop appears excessive, but there is scope for Australian Dollar (AUD) to retest 0.6375 before stabilisation can be expected.
Read more »
AUD/USD: AUD can break and remain below 0.6350The Australian Dollar (AUD) could weaken further; given the deeply oversold conditions, it remains to be seen if it can break below 0.6350.
Read more »