AUD/USD Upside Risk Intact Above Support, UOB Says
UOB analysts note AUD/USD rebounded to around 0.7062 after the RBA held rates. They see scope for further gains but a break above 0.7075 is needed for sustained upside.
AUDUSD
The Australian dollar rebounded against the US dollar, closing around 0.7062, after the Reserve Bank of Australia kept its cash rate unchanged at 4.35%.
UOB strategists Quek Ser Leang and Lee Sue Ann see intraday potential for further gains, but a sustained break above the 0.7075 resistance is required to confirm a stronger advance. Upside risk remains intact while the pair holds above support.
Source: FXStreet Forex News