There was no enhance in both downward or upward momentum; Australian Greenback (AUD) is predicted to commerce in a sideways vary of 0.6505/0.6555 towards US Greenback (USD). Within the longer run, there may be potential for AUD to check 0.6595, UOB Group’s FX analysts Quek Ser Leang and Peter Chia word.
No enhance in both downward or upward momentum
24-HOUR VIEW: “When AUD was at 0.6550 within the early Asian session final Friday, we identified that ‘there’s a likelihood for AUD to check 0.6575 earlier than a pullback will be anticipated.’ Nevertheless, AUD pulled again from 0.6561 to 0.6510 earlier than recovering to shut at 0.6534 (-0.20%). There was no important enhance in both downward or upward momentum. Right now, we count on AUD to commerce in a sideways vary of 0.6505/0.6555.”
1-3 WEEKS VIEW: “There’s not a lot so as to add to our replace from final Friday (27 Jun, spot at 0.6550). As said, “the value motion suggests there may be potential for AUD to check 0.6595, so long as 0.6495 (‘robust assist’ stage) is just not breached.” A breach of 0.6495 would point out that AUD is extra more likely to commerce in a variety as an alternative of testing 0.6595.”
