- Analytics
- News and Tools
- Market News
- AUDUSD: Further gains could retest 0.6820 – UOB
AUDUSD: Further gains could retest 0.6820 – UOB
In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, AUDUSD could extend the uptrend to the 0.6820 region in the short term.
Key Quotes
24-hour view: “We expected AUD to consolidate yesterday. However, it traded in a choppy manner between 0.6686 and 0.6798. Despite the choppy price actions, the underlying tone appears to have softened somewhat and AUD is likely to edge lower. However, any decline is not expected to break the support at 0.6680. Resistance is at 0.6775 but only a clear break of 0.6800 would indicate that AUD is ready to head higher instead of edging lower.”
Next 1-3 weeks: “Two days ago (14 Nov, spot at 0.6695), we highlighted that AUD is likely to advance further, albeit at a slower pace. We indicated that the level to monitor is at 0.6775. Yesterday (15 Nov), AUD took out 0.6775 and rose to 0.6798 before pulling back. While AUD rose above 0.6775, upward momentum has not improved much. However, as long as the ‘strong support’ at 0.6670 is not breached, there is room for AUD to advance further to 0.6820.”
© 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
