A breach of 0.6370 would imply that the present value actions are a part of a spread buying and selling part, UOB Group’s FX analysts Quek Ser Leang and Peter Chia be aware.
To proceed to rise, AUD should break and maintain above 0.6515
24-HOUR VIEW: “When AUD was at 0.6405 final Friday, we anticipated it to ‘commerce between 0.6380 and 0.6445.’ AUD then traded inside a narrower vary of 0.6388/0.6436, closing largely unchanged (0.6404, -0.02%). The worth motion gives no contemporary clues. Right this moment, we count on AUD to commerce between 0.6390 and 0.6440.”
1-3 WEEKS VIEW: “Final Wednesday (14 Could, spot at 0.6470), we indicated that ‘To proceed to rise, AUD should break and maintain above 0.6515.’ After AUD retreated, we indicated final Friday (16 Could, spot at 0.6405) that ‘a breach of 0.6370 would imply that the present value actions are seemingly a part of a spread buying and selling part.’ Whereas upward momentum continues to be slowing, we preserve our view for now.”
