Australian Dollar: Upside risk intact above 0.7025 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report AUD/USD briefly broke above 0.7075 to 0.7091 before retreating to close almost unchanged at 0.7063.
UOB's Quek Ser Leang and Lee Sue Ann report that the Australian Dollar (AUD) briefly broke above 0.7075 against the US Dollar (USD) before retreating to close almost unchanged at 0.7063. They anticipate an intraday trading range between 0.7050 and 0.7085 for the next 1-3 weeks, maintaining an upside bias as long as AUD stays above 0.7025. A potential move toward 0.7100 could occur if AUD closes above 0.7075.
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