Further Rangebound Seen in AUD/USD – UOB
The research team at UOB Group believes the Aussie dollar could extend
its consolidative pattern between 0.7150 and 0.7350 in the next weeks.
Key Quotes
“In line with expectation, AUD rebounded to test the
0.7260 resistance (exact high of 0.7260) before easing off quickly.
Indicators are mostly neutral now and this pair is expected to trade
sideways from here”.
“There is not much to add as AUD traded mostly sideways last Friday. The
outlook is still viewed as neutral but we are shading the expected
sideway trading range lower to 0.7150/0.7350 (from 0.7200/0.7400
previously)”.
