- Analytics
- News and Tools
- Market News
- AUD/USD now moved to a consolidative phase – UOB
AUD/USD now moved to a consolidative phase – UOB
AUD/USD is now expected to trade within the 0.6400-0.6630 range in the next few weeks, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group’s Global Economics & Markets Research.
Key Quotes
24-hour view: “Yesterday, we held the view that ‘the rapid rise in AUD could extend to 0.6550 but in view of the overbought conditions, a sustained rise above this level is unlikely’. Our view was not wrong as AUD popped to a high of 0.6547 in Asian trade before trading choppily for the rest of the sessions. The price movement is viewed as part of a consolidation and we expect AUD to trade between 0.6450 and 0.6540 for today.”
Next 1-3 weeks: “There is not much to add to our update from yesterday (04 Oct, spot at 0.6515). As highlighted, the recent 3-week weakness in AUD has stabilized and AUD is likely to consolidate and trade between 0.6400 and 0.6630 for the time being.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
