Australian Dollar: Gradual upside within capped range against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann see AUD/USD steady near 0.7220 after quiet sessions, with intraday ranges around 0.7205–0.7238. They maintain that the Australian Dollar could edge higher but expect gains to stay within 0.7160–0.7240 over the next 1–3 weeks.
UOB analysts Quek Ser Leang and Lee Sue Ann see the Australian Dollar trading near 0.7220 against the US Dollar, with intraday ranges around 0.7205-0.7238. They maintain that the AUD may edge higher but anticipate gains to remain within 0.7160-0.7240 over the next 1-3 weeks. Over the multi-week horizon, they note the AUD/USD could potentially continue its rise, though a retest of its 0.7277 year-to-date high is uncertain.
The 24-hour view shows AUD trading quietly between 0.7205 and 0.7231, closing largely unchanged at 0.7216. Yesterday, the price action provided no new clues, suggesting AUD could trade within a range of 0.7205-0.7235. Today, the analysts expect AUD to trade again within the range of 0.7200-0.7235. Over the next 1-3 weeks, UOB holds the same view, noting that any upside for AUD is likely to stay within the 0.7160-0.7240 range.
The Australian Dollar remains supportive of its recent highs as the Reserve Bank of Australia (RBA) hints at rate hikes while hawkish Federal Reserve expectations and escalating US-Iran tensions provide some support to the US Dollar, limiting the AUD's upside potential.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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