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AUD/USD is neutral for now – UOB Group
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FXStreet Forex & Commodities News
Further consolidation appears likely; softer underlying tone suggests a lower range of 0.6585/0.6625.
In the longer run, Australian Dollar (AUD) is neutral now, and it is likely to trade between 0.6545 and 0.6655 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Softer underlying tone suggests a lower range of 0.6585/0.662524-HOUR VIEW: "AUD rose sharply to a high of 0.6629 two days ago.
Further consolidation appears likely, but the softer underlying tone suggests AUD is likely to trade in a lower range of 0.6585/0.6625."
1-3 WEEKS VIEW: "We revised our view yesterday (01 Oct, spot at 0.6615), indicating that we 'are neutral on AUD and expect it to trade between 0.6545 and 0.6655.'