AUD/USD to Consolidate Between 0.6895 and 0.6945 – UOB
UOB analyst Quek Ser Leang notes that AUD/USD's sharp rise to 0.6943 was not sustained, expecting the pair to consolidate in a narrow range between 0.6895 and 0.6945 in the near term.
AUDUSD
UOB's Quek Ser Leang commented on the Australian dollar's recent price action, stating that the abrupt jump to 0.6943 failed to hold. As a result, the pair is likely to trade within a consolidation band of 0.6895 to 0.6945 in the near term.
This outlook suggests limited directional momentum for AUD/USD, with the pair remaining in a broader range despite the brief spike. No clear breakout signal has emerged from the current pattern.
Source: FXStreet Forex News