Australian Greenback (AUD) is predicted to commerce in a variety of 0.6510/0.6535. Within the longer run, a narrower vary of 0.6470/0.6555 is probably going sufficient to include the worth actions for now, UOB Group’s FX analysts Quek Ser Leang and Peter Chia word.
AUD to commerce in a variety
24-HOUR VIEW: “We indicated final Friday that ‘though upward momentum seems lackluster, the bias for right this moment is on the upside.’ Nevertheless, we identified that ‘the foremost resistance at 0.6555 is probably going out of attain.’ The next worth actions didn’t prove as anticipated, as AUD traded in a comparatively tight vary of 0.6513/0.6535. AUD closed marginally larger by 0.02% at 0.6525. The worth motion gives no recent clues. Right now, we count on AUD to commerce in a variety of 0.6510/0.6535.”
1-3 WEEKS VIEW: “In our most up-to-date narrative from final Thursday (07 Aug, spot at 0.6500), we indicated that ‘the present worth actions are possible a part of a variety buying and selling part, in all probability between 0.6450 and 0.6555.’ Whereas we proceed to count on vary buying and selling, a narrower vary of 0.6470/0.6555 is probably going sufficient to include the worth actions for now.”
