- Analytics
- News and Tools
- Market News
- AUD/USD: Outlook remains mixed in the near term – UOB
AUD/USD: Outlook remains mixed in the near term – UOB
In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, AUD/USD should maintain the side-lined trading unchanged for the time being.
Key Quotes
24-hour view: “Last Friday, we expected AUD to trade sideways between 0.6700 and 0.6770. Our view was incorrect as AUD dropped to 0.6678. Downward momentum appears to be building and AUD is likely to trade with a downward bias today. However, any decline is likely to face strong support at 0.6660. The major support at 0.6620 is unlikely to come under threat. On the upside, a break of 0.6730 (minor resistance is at 0.6710) would indicate that the build-up in downward momentum has faded.”
Next 1-3 weeks: “Our most recent narrative was from last Monday (17 Apr, spot at 0.6710). As highlighted, after the recent sharp but short-lived swings, the outlook for AUD is mixed. For the time being, there is no clear direction and AUD could trade in a relatively broad range of 0.6620/0.6785.”
© 2000-2025. 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
