Non-directional worth actions for now; AUD is more likely to commerce between 0.6475 and 0.6540. Within the longer run, AUD seems to have moved right into a range-trading section between 0.6430 and 0.6550, UOB Group’s FX analysts Quek Ser Leang and Peter Chia notice.
Non-directional worth actions for now
24-HOUR VIEW: “AUD traded in a variety of 0.6470/0.6537 yesterday, closing at 0.6510, up 0.59%. The contracting shifting common envelope suggests non-directional worth actions for now. Right now, AUD is more likely to commerce throughout the envelope boundaries, anticipated to be between 0.6475 and 0.6540.”
1-3 WEEKS VIEW: “Our most up-to-date narrative was from final Friday (13 Jun, spot at 0.6495), whereby ‘the present worth actions are possible the early levels of a range-trading section between 0.6430 and 0.6550 in the interim.’ We proceed to carry the identical view.”
