- Analytics
- News and Tools
- Market News
- AUD/USD looks consolidative near term – UOB
AUD/USD looks consolidative near term – UOB
In the opinion of UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia, AUD/USD seems to have now moved into a consolidative phase.
Key Quotes
24-hour view: We expected AUD to trade in a range of 0.6405/0.6450 yesterday. However, it edged lower to 0.6388 before settling at 0.6398 (-0.40%). Downward pressure is increasing, albeit slightly. Today, AUD could weaken, but it is unlikely to threaten the major support at 0.6355 (minor support is at 0.6370). Resistance is at 0.6410, followed by 0.6425.
Next 1-3 weeks: Our latest narrative was from last Friday (22 Sep, spot at 0.6410), wherein AUD appears to have entered a consolidation phase, and it is likely to trade between 0.6355 and 0.6480 for the time being. 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
