AUD/USD: Bullish outlook unchanged above 0.6610 – UOB – by pabspiovano AUDUSD Currencies Majors Banks
In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, the constructive outlook in24-hour view: “AUD traded in a whippy manner between 0.6641 and 0.6706 yesterday before closing at 0.6694 . The underlying tone appears to be a tad firm and AUD is likely to edge higher today. However, any advance is unlikely to break clearly above the major resistance at 0.6740 . Support is at 0.6675, followed by 0.6645.
Next 1-3 weeks: “Our most recent narrative was from Wednesday wherein ‘as long as AUD holds above 0.6610, it could edge higher to 0.6740’. We indicated that ‘the odds of a sustained rise above 0.6740 are not high’. There is no change in our view.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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