Australian Greenback (AUD) is almost certainly to commerce in a variety between 0.6545 and 0.6595 towards US Greenback (USD). Within the longer run, present worth actions are seemingly a part of a variety buying and selling part; agency underlying tone suggests AUD may commerce in the next vary of 0.6515/0.6615, UOB Group’s FX analysts Quek Ser Leang and Peter Chia observe.
Present worth actions are seemingly a part of a variety buying and selling part
24-HOUR VIEW: “We anticipated AUD to ‘commerce in a variety between 0.6535 and 0.6595’ final Friday. Nevertheless, AUD traded in a a lot narrower vary than anticipated (0.6557/0.6595), closing modestly decrease at 0.6574 (-0.22%). The value actions are seemingly a part of a variety buying and selling part. Right this moment, we count on AUD to commerce between 0.6545 and 0.6595.”
1-3 WEEKS VIEW: “Final Friday (11 Jul, spot at 0.6565), we identified that ‘whereas the present worth actions are seemingly a part of a variety buying and selling part, the agency underlying tone suggests AUD may commerce in the next vary of 0.6515/0.6415 from right here.’ There isn’t any change in our view.”
