UOB: AUD/USD Downward Bias Toward 0.6980
UOB analysts maintain a negative outlook on AUD/USD, targeting a move toward 0.6980 following a quiet period in the pair.
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United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann continue to hold a bearish view on the Australian dollar against the US dollar. They see a downward bias toward the 0.6980 level.
The pair has been trading in a relatively calm range recently, but economists expect further weakness to emerge. No specific catalyst was cited in the note.
The forecast aligns with the broader trend in the forex market, where the greenback has been gaining ground against risk-sensitive currencies.
Source: FXStreet Forex News