AUD/USD upside risk targets 0.7150 after jump: UOB
UOB sees AUD/USD strength intact after a move to 0.7129, with upside risk toward 0.7150 though overbought conditions may limit intraday gains.
AUDUSD
UOB’s Quek Ser Leang and Lee Sue Ann noted that AUD/USD strength remains intact after the pair jumped to 0.7129. They see upside risk targeting 0.7150 against the U.S. dollar.
Near term, overbought conditions are expected to keep intraday moves within a 0.7090–0.7130 range, suggesting the next push may require consolidation first.
The comments come as the Australian dollar extends its rebound, with the U.S. dollar side likely remaining the key driver for the pair.
Source: FXStreet Forex News