- Analytics
- News and Tools
- Market News
- AUD/USD: Bullish outlook unchanged above 0.6610 – UOB
AUD/USD: Bullish outlook unchanged above 0.6610 – UOB
In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, the constructive outlook in AUD/USD is expected to remain unchallenged while the pair trades above the 0.6610 level.
Key Quotes
24-hour view: “AUD traded in a whippy manner between 0.6641 and 0.6706 yesterday before closing at 0.6694 (+0.34%). The underlying tone appears to be a tad firm and AUD is likely to edge higher today. However, any advance is unlikely to break clearly above the major resistance at 0.6740 (there is another resistance at 0.6720). Support is at 0.6675, followed by 0.6645.”
Next 1-3 weeks: “Our most recent narrative was from Wednesday (03 May, spot at 0.6660) wherein ‘as long as AUD holds above 0.6610, it could edge higher to 0.6740’. We indicated that ‘the odds of a sustained rise above 0.6740 are not high’. There is no change in our view.”
© 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
