A narrower vary of 0.6470/0.6555 is probably going sufficient to comprise the worth actions for now, UOB Group’s FX analysts Quek Ser Leang and Peter Chia notice.
Additional vary buying and selling appears probably
24-HOUR VIEW: “We anticipated AUD to ‘commerce in a variety of 0.6510/0.6535’ yesterday. Our view of vary buying and selling was not mistaken, though AUD traded in a decrease and narrower vary of 0.6502/0.6529. Additional vary buying and selling appears probably. Immediately, we count on AUD to commerce between 0.6500 and 0.6530.”
1-3 WEEKS VIEW: “We now have anticipated range-trading since final week. Yesterday (11 August, spot at 0.6520), we indicated that ‘whereas we proceed to count on vary buying and selling, a narrower vary of 0.6470/0.6555 is probably going sufficient to comprise the worth actions for now.’ We proceed to carry the identical view.”
