The Australian Dollar (AUD) is likely to trade in a sideways range of 0.6685/0.6735.
The Australian Dollar is likely to trade in a sideways range of 0.6685/0.6735. If AUD can surpass 0.6755, it could continue to rise to 0.6800, UOB Group analysts Quek Ser Leang and Peter Chia note. AUD is set to rise to 0.6800 24-HOUR VIEW: “We noted yesterday that ‘the underlying tone seems to be firming.’ We also indicated that while AUD ‘could edge above 0.6685, the major resistance at 0.6705 is unlikely to come under threat.’ The sudden surge in momentum that sent AUD surging to a high of 0.
6735.” 1-3 WEEKS VIEW: “On Monday , we noted ‘a slight increase in upward momentum.’ We indicated that ‘as long as AUD remains above 0.6610, it is likely to edge higher, but the likelihood of it breaking clearly above the major resistance zone of 0.6705/0.6715 is low for now.’ After trading sideways for a couple of days, AUD lifted off and broke above the major resistance zone, reaching a high of 0.6734. Not surprisingly, there has been a sharp increase in upward momentum.
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.
Australian Dollar Technical Setups: AUD/USD, AUD/NZD, GBP/AUDThe Australian dollar has been one of the standouts in the FX space for a couple of weeks now, propped up by rising inflation and higher inflation expectations
Read more »
AUD/USD trades with mild gains above 0.6650, all eyes on US NFP dataThe AUD/USD pair trades with mild gains near 0.6670 on Friday during the early Asian trading hours.
Read more »
AUD/USD trades with mild gains above 0.6650, all eyes on US NFP dataThe AUD/USD pair trades with mild gains near 0.6670 on Friday during the early Asian trading hours.
Read more »
AUD/USD trades with mild gains above 0.6650, all eyes on US NFP dataThe AUD/USD pair trades with mild gains near 0.6670 on Friday during the early Asian trading hours.
Read more »
AUD/USD: A break above 0.6665 may lead to 0.6680Sharp pullback in Australian Dollar (AUD) has scope to extend.
Read more »
AUD/USD extends gains above 0.6650 on softer US PCE dataThe AUD/USD pair trades on a stronger note near 0.6675 during the early Asian session on Monday.
Read more »