- Analytics
- News and Tools
- Market News
- AUD/USD faces extra consolidation near term – UOB
AUD/USD faces extra consolidation near term – UOB
In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, AUD/USD is now predicted to navigate within the 0.6865-0.7055 range in the short-term horizon.
Key Quotes
24-hour view: “We expected AUD to trade sideways between 0.6890 and 0.6970 yesterday. However, AUD rose to 0.7011 and then dropped quickly to end the day at 0.6937 (+0.18%). The sharp but short-lived swings have resulted in a mixed outlook. Further choppy trading is not ruled out, likely between 0.6900 and 0.6995.”
Next 1-3 weeks: “Our update from two days ago (08 Feb, spot at 0.6960) still stands. As highlighted, AUD appears to have moved into a consolidation phase and it is likely to trade between 0.6865 and 0.7055 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
